Sabal Trust CO Buys 2,529 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Sabal Trust CO raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 26.5% in the 4th quarter, HoldingsChannel reports. The firm owned 12,084 shares of the semiconductor company’s stock after acquiring an additional 2,529 shares during the quarter. Sabal Trust CO’s holdings in Analog Devices were worth $2,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its stake in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its position in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares during the period. Franklin Resources Inc. raised its position in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. FMR LLC grew its position in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after acquiring an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Analog Devices by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after purchasing an additional 226,716 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Down 0.7 %

NASDAQ ADI opened at $235.30 on Wednesday. The stock’s 50 day moving average is $216.35 and its 200 day moving average is $220.81. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $116.70 billion, a PE ratio of 74.94, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company posted $1.73 EPS. Analog Devices’s revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices 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.