Analog Devices, Inc. (NASDAQ:ADI) Position Trimmed by First American Trust FSB

First American Trust FSB reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 9.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,050 shares of the semiconductor company’s stock after selling 215 shares during the quarter. First American Trust FSB’s holdings in Analog Devices were worth $436,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Hawaii lifted its holdings in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 48 shares during the last quarter. Midwest Professional Planners LTD. raised its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC lifted 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 purchasing an additional 54 shares during the last quarter. West Oak Capital LLC grew its stake in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its position in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $213.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market capitalization of $105.93 billion, a PE ratio of 68.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock has a fifty day moving average of $217.13 and a 200-day moving average of $219.78. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $5,082,860 over the last 90 days. 0.33% of the stock is owned by company insiders.

Analog Devices 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.