First United Bank & Trust Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

First United Bank & Trust trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 61.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178 shares of the semiconductor company’s stock after selling 286 shares during the period. First United Bank & Trust’s holdings in Analog Devices were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Analog Devices by 18.4% during the first quarter. CWM LLC now owns 16,061 shares of the semiconductor company’s stock valued at $3,177,000 after buying an additional 2,498 shares during the period. Rise Advisors LLC bought a new position in Analog Devices during the 1st quarter worth about $51,000. Montecito Bank & Trust increased its position in Analog Devices by 13.3% during the 1st quarter. Montecito Bank & Trust now owns 2,110 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 248 shares during the period. Perpetual Ltd raised its holdings in shares of Analog Devices by 51.6% in the 1st quarter. Perpetual Ltd now owns 4,236 shares of the semiconductor company’s stock valued at $838,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Analog Devices by 3.0% in the 1st quarter. Wedmont Private Capital now owns 3,506 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 102 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADI shares. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays raised their price objective 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. Bank of America reduced their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

NASDAQ ADI opened at $227.49 on Thursday. The company has a market cap of $112.88 billion, a price-to-earnings ratio of 53.15, a PEG ratio of 3.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock’s fifty day moving average price is $225.34 and its 200 day moving average price is $220.58. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The company’s revenue was down 24.8% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. Company insiders own 0.31% of the company’s stock.

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.