M&T Bank Corp Acquires 16,511 Shares of Analog Devices, Inc. $ADI

M&T Bank Corp grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 421,252 shares of the semiconductor company’s stock after buying an additional 16,511 shares during the period. M&T Bank Corp’s holdings in Analog Devices were worth $100,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Lido Advisors LLC increased its stake in Analog Devices by 20.0% during the second quarter. Lido Advisors LLC now owns 146,009 shares of the semiconductor company’s stock worth $34,753,000 after acquiring an additional 24,349 shares during the last quarter. Kuhn & Co Investment Counsel purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $201,000. West Family Investments Inc. purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $376,000. Giverny Capital Inc. increased its position in shares of Analog Devices by 2.8% during the 2nd quarter. Giverny Capital Inc. now owns 176,111 shares of the semiconductor company’s stock valued at $41,918,000 after purchasing an additional 4,771 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Analog Devices by 35.9% during the 2nd quarter. Schroder Investment Management Group now owns 579,430 shares of the semiconductor company’s stock valued at $137,916,000 after buying an additional 153,043 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Analog Devices stock opened at $266.51 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. The company has a market capitalization of $130.50 billion, a PE ratio of 67.99, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a 50 day moving average price of $240.03 and a 200-day moving average price of $236.63. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $268.47.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be paid a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.5%. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 39,750 shares of company stock valued at $9,598,496. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ADI shares. Robert W. Baird lifted their price objective on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. KeyCorp lifted their price target on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Truist Financial upped their price target on shares of Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a report on Wednesday, November 26th. Cantor Fitzgerald raised their price objective on shares of Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Finally, Benchmark restated a “buy” rating and set a $285.00 target price on shares of Analog Devices in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $281.87.

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.