First National Trust Co Has $2.33 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

First National Trust Co cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,716 shares of the semiconductor company’s stock after selling 571 shares during the quarter. First National Trust Co’s holdings in Analog Devices were worth $2,326,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ADI. Pinnacle Bancorp Inc. grew its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares during the period. Cetera Trust Company N.A acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $29,000. Stuart Chaussee & Associates Inc. bought a new stake in Analog Devices during the 4th quarter worth approximately $32,000. Northwest Capital Management Inc raised its holdings in Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after buying an additional 135 shares during the period. Finally, Silver Oak Securities Incorporated bought a new position in Analog Devices in the third quarter valued at approximately $29,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

ADI stock traded up $3.14 during midday trading on Friday, reaching $199.63. 2,372,862 shares of the company were exchanged, compared to its average volume of 3,339,473. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The firm has a market capitalization of $99.00 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 4.93 and a beta of 1.14. The business has a 50-day moving average price of $194.27 and a two-hundred day moving average price of $188.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.84%. Analog Devices’s payout ratio is 65.83%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the topic of a number of research reports. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently 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.