23,451 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,451 shares of the semiconductor company’s stock, valued at approximately $5,353,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased 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 valued at $9,437,781,000 after buying an additional 2,160,668 shares during the period. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after acquiring an additional 1,197,215 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth $1,225,227,000. Finally, Capital International Investors grew its stake in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after purchasing an additional 644,945 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADI. Barclays increased their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. TD Cowen upped their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday. Stifel Nicolaus lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, Robert W. Baird upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.64.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Champy sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The disclosure for this sale can be found here. Insiders have sold a total of 41,812 shares of company stock valued at $9,648,861 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

ADI traded up $6.48 during trading on Friday, reaching $228.39. 3,208,020 shares of the company were exchanged, compared to its average volume of 3,378,589. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company’s 50-day moving average is $226.33 and its two-hundred day moving average is $211.31. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.33 billion, a price-to-earnings ratio of 53.36, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.