Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,155 shares of the semiconductor company’s stock after acquiring an additional 336 shares during the period. Trustmark National Bank Trust Department’s holdings in Analog Devices were worth $1,020,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Analog Devices during the 4th quarter worth approximately $1,225,227,000. Vanguard Group Inc. grew its stake in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after acquiring an additional 1,197,215 shares during the period. International Assets Investment Management LLC raised its stake in shares of Analog Devices by 20,527.8% in the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after acquiring an additional 930,732 shares in the last quarter. Finally, M&G Plc purchased a new position in Analog Devices in the first quarter valued at $181,232,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI traded down $8.14 during mid-day trading on Tuesday, reaching $231.90. 2,017,480 shares of the company’s stock were exchanged, compared to its average volume of 3,255,322. The business’s fifty day simple moving average is $231.09 and its 200-day simple moving average is $206.98. The stock has a market capitalization of $115.07 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 3.90 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $2.83 EPS. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Truist Financial raised their target price on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Cowen boosted their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. KeyCorp increased their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.50.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock valued at $10,481,343 in the last ninety days. Insiders own 0.31% of the company’s stock.

Analog Devices Company 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.