Glenview Trust co Has $37.27 Million Stock Position in Analog Devices, Inc. $ADI

Glenview Trust co reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,566 shares of the semiconductor company’s stock after selling 3,926 shares during the quarter. Glenview Trust co’s holdings in Analog Devices were worth $37,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FAS Wealth Partners Inc. bought a new position in Analog Devices in the second quarter valued at $301,000. Faithward Advisors LLC lifted its position in Analog Devices by 6.2% during the 2nd quarter. Faithward Advisors LLC now owns 4,621 shares of the semiconductor company’s stock worth $1,100,000 after buying an additional 268 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Analog Devices by 43.4% during the 2nd quarter. Sei Investments Co. now owns 451,984 shares of the semiconductor company’s stock worth $107,579,000 after buying an additional 136,846 shares during the last quarter. Tenere Capital LLC bought a new position in shares of Analog Devices in the 2nd quarter valued at about $24,516,000. Finally, EDENTREE ASSET MANAGEMENT Ltd increased its position in shares of Analog Devices by 13.1% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 54,650 shares of the semiconductor company’s stock valued at $13,005,000 after acquiring an additional 6,325 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares in the company, valued at $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the business’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 completion of the sale, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,250 shares of company stock valued at $6,520,371. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $281.57 on Thursday. The company’s 50-day moving average is $244.56 and its 200-day moving average is $239.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The firm has a market capitalization of $137.87 billion, a PE ratio of 61.75, a PEG ratio of 1.54 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $283.23.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADI. Weiss Ratings reissued a “buy (b-)” rating on shares of Analog Devices in a research report on Monday. Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Cantor Fitzgerald raised their target price on shares of Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group restated a “buy” rating and set a $300.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Finally, Wells Fargo & Company increased their price target on shares of Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $283.61.

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.