Clearstead Trust LLC Buys 2,037 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Clearstead Trust LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 814.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,287 shares of the semiconductor company’s stock after acquiring an additional 2,037 shares during the quarter. Clearstead Trust LLC’s holdings in Analog Devices were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NTV Asset Management LLC lifted its position in shares of Analog Devices by 5.0% in the 4th quarter. NTV Asset Management LLC now owns 1,669 shares of the semiconductor company’s stock worth $331,000 after purchasing an additional 80 shares during the period. National Bank of Canada FI lifted its holdings in Analog Devices by 131.6% in the fourth quarter. National Bank of Canada FI now owns 593,156 shares of the semiconductor company’s stock valued at $114,820,000 after buying an additional 336,989 shares during the period. FourThought Financial Partners LLC boosted its position in Analog Devices by 62.0% during the fourth quarter. FourThought Financial Partners LLC now owns 2,805 shares of the semiconductor company’s stock valued at $557,000 after acquiring an additional 1,074 shares during the last quarter. Forte Capital LLC ADV acquired a new stake in Analog Devices during the 4th quarter worth about $300,000. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Analog Devices by 5.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,173 shares of the semiconductor company’s stock worth $630,000 after acquiring an additional 167 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ADI. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Truist Financial dropped their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Stock Performance

Analog Devices stock traded up $3.14 during mid-day trading on Friday, reaching $199.63. 2,372,862 shares of the company’s stock were exchanged, compared to its average volume of 3,339,473. The business’s fifty day simple moving average is $194.27 and its 200 day simple moving average is $188.15. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The firm has a market capitalization of $99.00 billion, a PE ratio of 35.71, a P/E/G ratio of 4.93 and a beta of 1.14.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.84%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insider Buying and Selling

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by company insiders.

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.