Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the first quarter, HoldingsChannel.com reports. The fund owned 19,355 shares of the semiconductor company’s stock after buying an additional 531 shares during the period. Trust Co. of Toledo NA OH’s holdings in Analog Devices were worth $3,903,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Midwest Professional Planners LTD. grew its holdings in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC grew its holdings in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 53 shares during the last quarter. NTV Asset Management LLC boosted its position in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the period. Cassady Schiller Wealth Management LLC boosted its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after buying an additional 65 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on ADI shares. Oppenheimer raised their target price on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Analog Devices in a research report on Friday, May 23rd. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Morgan Stanley decreased their target price on Analog Devices from $214.00 to $212.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices Stock Down 3.1%

Shares of ADI stock opened at $225.03 on Friday. The stock’s 50 day simple moving average is $204.95 and its 200 day simple moving average is $210.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a market capitalization of $111.67 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business earned $1.40 EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,934 shares of company stock valued at $6,643,956. Corporate insiders own 0.33% of the company’s stock.

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.