Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,481 shares of the semiconductor company’s stock after selling 1,293 shares during the period. WASHINGTON TRUST Co’s holdings in Analog Devices were worth $21,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of Hawaii increased its holdings in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC raised its position in shares of Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares in the last quarter. DT Investment Partners LLC lifted its stake in shares of Analog Devices by 0.7% in the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after acquiring an additional 51 shares during the period. Amarillo National Bank lifted its stake in shares of Analog Devices by 3.6% in the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 54 shares during the period. Finally, Blossom Wealth Management boosted its holdings in shares of Analog Devices by 3.0% in the third quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial upped their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.52.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $214.61 on Friday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $106.47 billion, a PE ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The business has a fifty day simple moving average of $214.11 and a 200-day simple moving average of $219.80.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the company posted $2.01 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Analog Devices 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.