Cullen Frost Bankers Inc. Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cullen Frost Bankers Inc. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 76,008 shares of the semiconductor company’s stock after selling 1,591 shares during the period. Cullen Frost Bankers Inc.’s holdings in Analog Devices were worth $15,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADI. Brighton Jones LLC grew its position in shares of Analog Devices by 9.2% in the 3rd quarter. Brighton Jones LLC now owns 2,385 shares of the semiconductor company’s stock worth $418,000 after buying an additional 200 shares during the last quarter. Advisor Partners II LLC grew its position in shares of Analog Devices by 1.0% in the 3rd quarter. Advisor Partners II LLC now owns 18,597 shares of the semiconductor company’s stock worth $3,256,000 after buying an additional 193 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Analog Devices by 1.2% in the 3rd quarter. Park Avenue Securities LLC now owns 23,479 shares of the semiconductor company’s stock worth $4,111,000 after buying an additional 275 shares during the last quarter. Catalyst Financial Partners LLC grew its position in shares of Analog Devices by 14.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,917 shares of the semiconductor company’s stock worth $336,000 after buying an additional 247 shares during the last quarter. Finally, Graypoint LLC grew its position in shares of Analog Devices by 32.6% in the 3rd quarter. Graypoint LLC now owns 4,186 shares of the semiconductor company’s stock worth $733,000 after buying an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $1.29 during trading hours on Wednesday, reaching $204.86. 2,464,271 shares of the company’s stock were exchanged, compared to its average volume of 3,330,833. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $205.77. The company has a market capitalization of $101.59 billion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14. The business has a fifty day moving average of $194.85 and a two-hundred day moving average of $188.89. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. Analog Devices’s payout ratio is presently 65.83%.

Wall Street Analyst Weigh In

ADI has been the subject of several research reports. Barclays lifted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Thursday, January 18th. Finally, KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

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.