Grove Bank & Trust Purchases 63 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Grove Bank & Trust raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,508 shares of the semiconductor company’s stock after purchasing an additional 63 shares during the quarter. Grove Bank & Trust’s holdings in Analog Devices were worth $320,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. lifted its stake in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. International Assets Investment Management LLC grew its stake in shares of Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP lifted its position in Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’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 $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $219.16 on Monday. The stock has a 50-day moving average price of $215.64 and a 200 day moving average price of $222.52. The stock has a market capitalization of $108.77 billion, a P/E ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $2.01 EPS. The company’s revenue was down 10.1% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. Analog Devices’s payout ratio is 111.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Barclays cut their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Company Profile

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.