Moody National Bank Trust Division Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Moody National Bank Trust Division trimmed its position in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,432 shares of the semiconductor company’s stock after selling 741 shares during the period. Moody National Bank Trust Division’s holdings in Analog Devices were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB raised its stake in shares of Analog Devices by 103.0% during the 3rd quarter. Nordea Investment Management AB now owns 113,202 shares of the semiconductor company’s stock worth $16,008,000 after buying an additional 57,450 shares during the last quarter. Summit X LLC acquired a new position in Analog Devices in the 3rd quarter valued at about $221,000. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 370.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,943,607 shares of the semiconductor company’s stock valued at $722,212,000 after acquiring an additional 3,893,057 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Analog Devices by 4.6% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,140 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 94 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Analog Devices by 44.2% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 14,407 shares of the semiconductor company’s stock valued at $2,105,000 after acquiring an additional 4,416 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Tunc Doluca sold 1,700 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $170.00, for a total value of $289,000.00. Following the sale, the director now directly owns 66,157 shares of the company’s stock, valued at $11,246,690. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Champy sold 1,495 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,181,438.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tunc Doluca sold 1,700 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $170.00, for a total value of $289,000.00. Following the completion of the transaction, the director now directly owns 66,157 shares of the company’s stock, valued at approximately $11,246,690. The disclosure for this sale can be found here. Insiders have sold 14,195 shares of company stock valued at $2,697,723 over the last three months. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial boosted their target price on Analog Devices from $215.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Morgan Stanley boosted their target price on Analog Devices from $177.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, February 16th. Citigroup boosted their target price on Analog Devices from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Evercore ISI boosted their target price on Analog Devices from $185.00 to $195.00 in a report on Wednesday, November 23rd. Finally, StockNews.com began coverage on Analog Devices in a report on Thursday. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.68.

Analog Devices Stock Performance

ADI stock opened at $185.85 on Friday. Analog Devices, Inc. has a 12-month low of $133.48 and a 12-month high of $196.41. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $178.70 and its 200 day simple moving average is $163.07. The firm has a market cap of $94.01 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.41 and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.15. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $1.94 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 10.6 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Monday, February 27th were given a $0.86 dividend. The ex-dividend date was Friday, February 24th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.76. This represents a $3.44 annualized dividend and a yield of 1.85%. Analog Devices’s dividend payout ratio (DPR) is currently 51.89%.

Analog Devices Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.