Zions Bancorporation N.A. Has $789,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Zions Bancorporation N.A. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 34.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,456 shares of the semiconductor company’s stock after selling 1,842 shares during the quarter. Zions Bancorporation N.A.’s holdings in Analog Devices were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in Analog Devices by 3.9% in the fourth quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock valued at $935,000 after purchasing an additional 176 shares during the period. 9258 Wealth Management LLC increased its position in Analog Devices by 3.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after buying an additional 85 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Analog Devices by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,630 shares of the semiconductor company’s stock worth $1,912,000 after purchasing an additional 675 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Analog Devices by 14.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,720 shares of the semiconductor company’s stock worth $330,000 after acquiring an additional 220 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Analog Devices by 4.5% in the fourth quarter. Navellier & Associates Inc. now owns 3,983 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.8 %

Shares of ADI opened at $225.42 on Friday. The company’s fifty day moving average is $224.69 and its 200 day moving average is $214.88. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market capitalization of $111.92 billion, a PE ratio of 52.67, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $2.49 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd 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 1.63%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, 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 completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 over the last three months. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADI shares. TD Cowen increased their price target on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Truist Financial decreased their price objective 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. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Barclays boosted their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, Susquehanna increased their target price on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

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.