FineMark National Bank & Trust Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

FineMark National Bank & Trust grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,891 shares of the semiconductor company’s stock after purchasing an additional 370 shares during the period. FineMark National Bank & Trust’s holdings in Analog Devices were worth $8,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after purchasing an additional 21,522 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Analog Devices in the fourth quarter worth $1,152,000. Sequoia Financial Advisors LLC grew its holdings in shares of Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after buying an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in Analog Devices by 37.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after acquiring an additional 2,215 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Analog Devices by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADI. Morgan Stanley raised their price objective on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. KeyCorp increased their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial lifted their price objective on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein upped their target price on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Evercore ISI assumed coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.75.

Analog Devices Stock Down 2.7 %

Analog Devices stock traded down $6.38 during midday trading on Thursday, reaching $233.78. The company’s stock had a trading volume of 3,456,729 shares, compared to its average volume of 3,348,301. The business has a 50-day simple moving average of $199.12 and a 200-day simple moving average of $192.74. The company has a market cap of $115.93 billion, a P/E ratio of 42.06, a P/E/G ratio of 5.44 and a beta of 1.14. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $2.83 earnings per share. The firm’s revenue was down 33.8% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 5.85 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s payout ratio is currently 65.83%.

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.