Hancock Whitney Corp Sells 123 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Hancock Whitney Corp reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,134 shares of the semiconductor company’s stock after selling 123 shares during the period. Hancock Whitney Corp’s holdings in Analog Devices were worth $259,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft lifted its stake in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC grew its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 48 shares during the last quarter. SouthState Corp lifted its stake in Analog Devices by 28.6% during the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 50 shares in the last quarter. Finally, Investment Partners LTD. boosted its holdings in Analog Devices by 2.9% during the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.3 %

Shares of ADI stock opened at $226.01 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $112.15 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. The business has a 50-day moving average price of $223.56 and a two-hundred day moving average price of $216.63. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results 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. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post 6.33 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. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Analyst Ratings Changes

Several brokerages have recently commented on ADI. Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock 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.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling at Analog Devices

In other 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 transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was 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 $1,078,935.52. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock worth $7,181,458 over the last three months. Company 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.