Analog Devices, Inc. $ADI Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 973,716 shares of the semiconductor company’s stock after selling 12,557 shares during the quarter. Truist Financial Corp’s holdings in Analog Devices were worth $239,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADI. Howard Hughes Medical Institute purchased a new stake in shares of Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new position in Analog Devices during the second quarter worth $26,000. Clayton Financial Group LLC acquired a new position in Analog Devices during the third quarter worth $31,000. Sound Income Strategies LLC boosted its position in Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares in the last quarter. Finally, Access Investment Management LLC acquired a new stake in Analog Devices in the second quarter valued at $45,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total value of $928,968.75. Following the completion of the sale, the director owned 130,071 shares of the company’s stock, valued at $38,666,206.17. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katsufumi Nakamura sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $301.46, for a total transaction of $150,730.00. Following the sale, the senior vice president owned 12,710 shares in the company, valued at $3,831,556.60. This represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 53,544 shares of company stock valued at $14,328,561. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Sanford C. Bernstein restated a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Cfra reaffirmed a “buy” rating and issued a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Citigroup raised their price objective on shares of Analog Devices from $290.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.04.

Analog Devices Trading Down 0.1%

Shares of ADI opened at $303.83 on Wednesday. The stock has a fifty day moving average of $278.92 and a two-hundred day moving average of $252.99. The company has a market capitalization of $148.77 billion, a PE ratio of 66.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $313.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.