Analog Devices, Inc. (NASDAQ:ADI) Holdings Trimmed by M&T Bank Corp

M&T Bank Corp trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 415,054 shares of the semiconductor company’s stock after selling 19,080 shares during the quarter. M&T Bank Corp owned 0.08% of Analog Devices worth $95,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at $233,000. Sequoia Financial Advisors LLC boosted its stake in Analog Devices by 7.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,844 shares of the semiconductor company’s stock worth $2,703,000 after purchasing an additional 858 shares during the period. Cooper Financial Group acquired a new position in Analog Devices during the second quarter valued at $260,000. Maia Wealth LLC acquired a new stake in Analog Devices during the 2nd quarter worth about $271,000. Finally, Diversified Trust Co lifted its position in shares of Analog Devices by 8.1% in the second quarter. Diversified Trust Co now owns 4,077 shares of the semiconductor company’s stock worth $931,000 after purchasing an additional 304 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADI has been the subject of a number of research reports. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $219.04 on Tuesday. Analog Devices, Inc. has a twelve month low of $181.80 and a twelve month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market cap of $108.71 billion, a P/E ratio of 66.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The firm’s 50-day simple moving average is $222.95 and its 200-day simple moving average is $225.88.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at approximately $18,106,760.49. This represents a 27.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,000 shares of company stock worth $22,596,300. Insiders own 0.31% of the company’s stock.

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.