Huntington National Bank Has $101.49 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Huntington National Bank lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,683 shares of the semiconductor company’s stock after purchasing an additional 6,525 shares during the period. Huntington National Bank owned 0.10% of Analog Devices worth $101,489,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ADI. Curbstone Financial Management Corp acquired a new stake in shares of Analog Devices in the fourth quarter worth $460,000. Czech National Bank lifted its position in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after acquiring an additional 6,566 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after acquiring an additional 2,554 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Analog Devices in the third quarter valued at about $20,194,000. Finally, RFG Advisory LLC increased its stake in shares of Analog Devices by 3.9% in the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after purchasing an additional 77 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,684 shares of company stock valued at $7,746,500. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ADI. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. UBS Group raised their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Trading Down 1.2 %

ADI stock opened at $199.18 on Wednesday. The business has a fifty day moving average price of $215.71 and a 200 day moving average price of $219.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 63.43, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.99%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

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.