Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by Cambridge Trust Co.

Cambridge Trust Co. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 92.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,028 shares of the semiconductor company’s stock after purchasing an additional 18,749 shares during the period. Cambridge Trust Co.’s holdings in Analog Devices were worth $7,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Analog Devices in the fourth quarter valued at approximately $1,040,194,000. Moneta Group Investment Advisors LLC increased its position in Analog Devices by 101,479.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after acquiring an additional 4,107,895 shares during the period. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the period. Alliancebernstein L.P. increased its position in Analog Devices by 236.6% during the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock worth $450,446,000 after acquiring an additional 1,625,377 shares during the period. Finally, Nordea Investment Management AB increased its position in Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after acquiring an additional 1,486,180 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by insiders.

Analog Devices Stock Down 1.0 %

NASDAQ ADI traded down $1.87 during trading hours on Thursday, reaching $187.56. 1,088,982 shares of the company’s stock were exchanged, compared to its average volume of 3,312,528. The company’s 50-day moving average is $193.18 and its two-hundred day moving average is $186.46. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market capitalization of $93.01 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 4.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period last year, the business earned $2.75 EPS. On average, analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is presently 65.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADI. Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a report on Thursday, January 4th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a report on Thursday, January 18th. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Finally, Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday. They issued an “outperform” rating and a $254.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Company 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.