Sabal Trust CO Has $2.57 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Sabal Trust CO increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,084 shares of the semiconductor company’s stock after purchasing an additional 2,529 shares during the period. Sabal Trust CO’s holdings in Analog Devices were worth $2,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC boosted its position in shares of Analog Devices by 1.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,600 shares of the semiconductor company’s stock valued at $8,201,000 after acquiring an additional 502 shares in the last quarter. National Pension Service raised its position in Analog Devices by 0.8% in the 4th quarter. National Pension Service now owns 1,039,475 shares of the semiconductor company’s stock worth $220,847,000 after purchasing an additional 8,716 shares during the last quarter. Gray Foundation acquired a new position in shares of Analog Devices during the fourth quarter valued at $1,700,000. FourThought Financial Partners LLC bought a new position in shares of Analog Devices in the 4th quarter valued at about $595,000. Finally, CWS Financial Advisors LLC grew its holdings in Analog Devices by 62.0% during the 4th quarter. CWS Financial Advisors LLC now owns 1,419 shares of the semiconductor company’s stock worth $301,000 after acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following 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 represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Shares of ADI opened at $235.30 on Wednesday. The business has a 50-day simple moving average of $216.35 and a two-hundred day simple moving average of $220.81. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The stock has a market cap of $116.70 billion, a PE ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

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 business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $1.73 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is 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 positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADI. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Morgan Stanley lifted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.