Argent Trust Co Purchases 944 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Argent Trust Co increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,686 shares of the semiconductor company’s stock after acquiring an additional 944 shares during the quarter. Argent Trust Co’s holdings in Analog Devices were worth $4,722,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Swedbank AB acquired a new stake in Analog Devices in the first quarter worth about $537,171,000. Vanguard Group Inc. raised its stake in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Analog Devices in the first quarter worth $181,232,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.9 %

Shares of ADI opened at $225.35 on Wednesday. The stock has a fifty day simple moving average of $224.35 and a two-hundred day simple moving average of $215.68. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $111.82 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,495 shares of company stock worth $7,181,458. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Truist Financial decreased their price objective on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. KeyCorp upped their target price on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Barclays lifted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Susquehanna boosted their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $251.45.

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.