Truist Financial Corp Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Truist Financial Corp raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489,162 shares of the semiconductor company’s stock after buying an additional 9,202 shares during the quarter. Truist Financial Corp owned about 0.30% of Analog Devices worth $316,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ADI. Bank of Hawaii boosted its stake in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 48 shares during the last quarter. MONECO Advisors LLC grew its holdings in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 50 shares in the last quarter. DT Investment Partners LLC increased its position in Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after purchasing an additional 51 shares during the last quarter. Amarillo National Bank lifted its position in Analog Devices by 3.6% during the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 54 shares during the last quarter. Finally, NTV Asset Management LLC increased its holdings in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADI. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Truist Financial lifted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Benchmark assumed coverage on shares of Analog Devices in a research note on Friday. They issued a “buy” rating and a $245.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $248.52.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 2.5 %

Shares of NASDAQ:ADI opened at $214.61 on Monday. The business’s 50 day moving average is $214.04 and its 200 day moving average is $219.59. The stock has a market cap of $106.47 billion, a P/E ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.71%. Analog Devices’s dividend payout ratio is currently 111.85%.

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.