TIAA Trust National Association Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

TIAA Trust National Association raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,976 shares of the semiconductor company’s stock after acquiring an additional 110 shares during the quarter. TIAA Trust National Association’s holdings in Analog Devices were worth $5,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas boosted its stake in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Analog Devices in the fourth quarter valued at about $29,000. New Millennium Group LLC purchased a new position in Analog Devices in the second quarter valued at about $29,000. Riverview Trust Co purchased a new position in Analog Devices in the first quarter valued at about $30,000. Finally, ORG Partners LLC raised its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI opened at $218.71 on Wednesday. The stock has a 50-day moving average price of $225.95 and a 200-day moving average price of $213.53. The company has a market cap of $108.59 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 EPS. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal 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 given a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices’s payout ratio is 85.98%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. TD Cowen increased their price objective on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Truist Financial cut their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group raised their target price on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $251.45.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders sold 39,107 shares of company stock worth $9,014,710 in the last quarter. 0.31% of the stock is owned by insiders.

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.