Eastern Bank Acquires 43,712 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Eastern Bank grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,576 shares of the semiconductor company’s stock after purchasing an additional 43,712 shares during the quarter. Eastern Bank’s holdings in Analog Devices were worth $39,427,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices during the 3rd quarter valued at approximately $43,000. Reston Wealth Management LLC acquired a new position in Analog Devices during the 3rd quarter valued at approximately $48,000. Finally, Northwest Investment Counselors LLC acquired a new position in Analog Devices during the 3rd quarter valued at approximately $80,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADI has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley dropped their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.48.

Analog Devices Trading Up 0.2 %

ADI stock traded up $0.42 during mid-day trading on Monday, hitting $212.79. 1,630,113 shares of the company were exchanged, compared to its average volume of 2,818,722. The business has a fifty day simple moving average of $216.48 and a 200-day simple moving average of $222.88. The company has a quick ratio of 1.35, a current ratio of 1.84 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 $244.14. The firm has a market capitalization of $105.61 billion, a P/E ratio of 64.68, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.