Analog Devices, Inc. $ADI Stake Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,970 shares of the semiconductor company’s stock after acquiring an additional 4,180 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Analog Devices were worth $38,568,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new position in Analog Devices in the 2nd quarter valued at approximately $25,000. Clayton Financial Group LLC purchased a new position in shares of Analog Devices during the 3rd quarter valued at $31,000. LFA Lugano Financial Advisors SA increased its stake in shares of Analog Devices by 92.9% in the third quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Analog Devices during the third quarter worth $38,000. Finally, Sound Income Strategies LLC boosted its position in Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.7%

Shares of Analog Devices stock opened at $337.10 on Tuesday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $343.96. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $297.14 and a two-hundred day moving average price of $261.77. The stock has a market capitalization of $164.72 billion, a P/E ratio of 73.93, a PEG ratio of 1.93 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Insiders Place Their Bets

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. The trade was a 30.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $306.92, for a total value of $3,069,200.00. Following the completion of the sale, the chief executive officer directly owned 155,688 shares of the company’s stock, valued at $47,783,760.96. This represents a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,544 shares of company stock valued at $15,320,417 in the last ninety days. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Wells Fargo & Company set a $340.00 target price on Analog Devices and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Stifel Nicolaus boosted their price target on Analog Devices from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Robert W. Baird raised their price objective on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, Cfra restated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $314.87.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.