Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,259 shares of the semiconductor company’s stock after acquiring an additional 8,173 shares during the quarter. Fiduciary Trust Co’s holdings in Analog Devices were worth $14,330,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADI. Baader Bank Aktiengesellschaft raised its stake in Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 43 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the period. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its holdings in shares of Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ ADI opened at $217.17 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The business has a fifty day moving average of $224.64 and a 200-day moving average of $225.86. The stock has a market cap of $107.82 billion, a price-to-earnings ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,000 shares of company stock worth $24,883,200. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial reduced their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

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.