Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by First United Bank & Trust

First United Bank & Trust grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 37.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245 shares of the semiconductor company’s stock after acquiring an additional 67 shares during the period. First United Bank & Trust’s holdings in Analog Devices were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC increased its stake in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock worth $446,037,000 after purchasing an additional 2,203,062 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. KGI Securities started coverage on Analog Devices in a report on Friday, May 23rd. They set a “buy” rating on the stock. TD Cowen raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Cfra Research downgraded shares of Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Wells Fargo & Company reissued a “positive” rating on shares of Analog Devices in a research note on Friday, May 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.63.

Get Our Latest Stock Analysis on ADI

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $232.12 on Friday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market cap of $115.19 billion, a price-to-earnings ratio of 73.92, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The business’s 50-day simple moving average is $203.77 and its 200-day simple moving average is $210.75.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $1.40 earnings per share. Analog Devices’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s dividend payout ratio is 107.90%.

Analog Devices announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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 Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director now owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,934 shares of company stock worth $6,643,956. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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