Bell Bank Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bell Bank decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,924 shares of the semiconductor company’s stock after selling 71 shares during the period. Bell Bank’s holdings in Analog Devices were worth $1,471,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of Hawaii raised its holdings in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 48 shares in the last quarter. MONECO Advisors LLC lifted its holdings in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 50 shares during the last quarter. DT Investment Partners LLC boosted its position in Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after buying an additional 51 shares in the last quarter. Amarillo National Bank grew its position in Analog Devices by 3.6% during the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 54 shares during the last quarter. Finally, NTV Asset Management LLC boosted its stake in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday. Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.19.

Analog Devices Price Performance

Shares of ADI opened at $238.91 on Friday. The stock has a market cap of $118.52 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04. The business’s fifty day moving average is $215.50 and its 200 day moving average is $220.24. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.11 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. Analog Devices’s payout ratio is presently 126.11%.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.