Central Pacific Bank Trust Division Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Central Pacific Bank Trust Division raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,271 shares of the semiconductor company’s stock after acquiring an additional 219 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Analog Devices were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in Analog Devices by 10.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,597 shares of the semiconductor company’s stock worth $368,000 after acquiring an additional 150 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in Analog Devices by 0.7% in the third quarter. Trust Co. of Toledo NA OH now owns 18,531 shares of the semiconductor company’s stock worth $4,265,000 after acquiring an additional 134 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in Analog Devices by 8.3% in the third quarter. Abacus Planning Group Inc. now owns 1,034 shares of the semiconductor company’s stock worth $238,000 after acquiring an additional 79 shares during the last quarter. Cavalry Management Group LLC purchased a new position in Analog Devices in the second quarter worth approximately $209,000. Finally, Centaurus Financial Inc. lifted its stake in Analog Devices by 163.8% in the second quarter. Centaurus Financial Inc. now owns 1,873 shares of the semiconductor company’s stock worth $427,000 after acquiring an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of ADI opened at $226.56 on Friday. 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 $112.42 billion, a P/E ratio of 52.93, a P/E/G ratio of 3.75 and a beta of 1.07. The company’s fifty day moving average is $222.79 and its two-hundred day moving average is $218.10. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

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, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

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.