Analog Devices, Inc. (NASDAQ:ADI) Holdings Increased by Fulton Bank N.A.

Fulton Bank N.A. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 53.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,936 shares of the semiconductor company’s stock after acquiring an additional 672 shares during the period. Fulton Bank N.A.’s holdings in Analog Devices were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Baader Bank Aktiengesellschaft raised its position in Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% in the 2nd 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 last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares in the last quarter. SouthState Corp lifted its stake in Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 50 shares during the last quarter. Finally, Investment Partners LTD. boosted its holdings in Analog Devices by 2.9% during the second quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after buying an additional 50 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

ADI opened at $229.40 on Wednesday. The stock has a fifty day moving average price of $222.81 and a 200 day moving average price of $218.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a market cap of $113.83 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $2.49 EPS. The firm’s revenue was down 24.8% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

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.