Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,500 shares of the semiconductor company’s stock after buying an additional 522 shares during the quarter. Fifth Third Bancorp’s holdings in Analog Devices were worth $22,940,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADI. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Analog Devices by 5.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,482 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 130 shares during the last quarter. Focus Financial Network Inc. lifted its stake in shares of Analog Devices by 28.7% in the second quarter. Focus Financial Network Inc. now owns 1,973 shares of the semiconductor company’s stock worth $465,000 after buying an additional 440 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Analog Devices during the second quarter worth about $37,000. Sanibel Captiva Trust Company Inc. grew its stake in Analog Devices by 5.5% during the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $511,000 after acquiring an additional 117 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its holdings in Analog Devices by 3.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,651 shares of the semiconductor company’s stock valued at $377,000 after acquiring an additional 62 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.8 %

ADI stock traded up $4.01 during midday trading on Wednesday, hitting $227.50. The company’s stock had a trading volume of 5,594,527 shares, compared to its average volume of 3,377,605. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The firm has a 50-day simple moving average of $226.84 and a 200-day simple moving average of $210.87. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $112.89 billion, a P/E ratio of 55.11, a PEG ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business posted $2.49 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock worth $10,791,543 over the last 90 days. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Stifel Nicolaus raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, 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 report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Analog Devices 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.