First National Trust Co Has $2.61 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

First National Trust Co trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,448 shares of the semiconductor company’s stock after selling 185 shares during the period. First National Trust Co’s holdings in Analog Devices were worth $2,613,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Baader Bank Aktiengesellschaft lifted its position in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the last quarter. CVA Family Office LLC increased its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Tsfg LLC increased its stake in shares of Analog Devices by 24.5% during the second quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 53 shares during the period. Mcdonald Partners LLC increased its stake in shares of Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 54 shares during the period. Finally, Fortem Financial Group LLC increased its stake in shares of Analog Devices by 1.2% during the second quarter. Fortem Financial Group LLC now owns 4,510 shares of the semiconductor company’s stock worth $1,029,000 after purchasing an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 39,107 shares of company stock worth $9,014,710 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ADI shares. Citigroup increased their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Robert W. Baird increased their target price on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Truist Financial lowered their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Price Performance

Analog Devices stock opened at $221.80 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The stock has a market capitalization of $110.12 billion, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The stock has a fifty day moving average of $225.83 and a 200-day moving average of $213.59.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the firm earned $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

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.