First Horizon Corp Makes New Investment in Analog Devices, Inc. $ADI

First Horizon Corp acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,758 shares of the semiconductor company’s stock, valued at approximately $678,000.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in Analog Devices by 58.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 267 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 98 shares during the period. MGO One Seven LLC lifted its holdings in shares of Analog Devices by 835.7% during the third quarter. MGO One Seven LLC now owns 38,701 shares of the semiconductor company’s stock worth $9,509,000 after buying an additional 34,565 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Analog Devices by 38.2% in the third quarter. Meeder Asset Management Inc. now owns 351 shares of the semiconductor company’s stock valued at $86,000 after acquiring an additional 97 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Analog Devices by 25.6% in the third quarter. Citizens Financial Group Inc. RI now owns 7,320 shares of the semiconductor company’s stock valued at $1,799,000 after acquiring an additional 1,494 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Analog Devices by 1.4% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 193,482 shares of the semiconductor company’s stock worth $47,072,000 after acquiring an additional 2,628 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.8%

NASDAQ ADI opened at $296.21 on Wednesday. The business has a fifty day moving average price of $265.19 and a two-hundred day moving average price of $248.85. The stock has a market capitalization of $145.04 billion, a PE ratio of 64.96, a PEG ratio of 1.62 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $303.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s revenue for the quarter 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 fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $270.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. BNP Paribas Exane began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target for the company. Bank of America raised their price objective on Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, UBS Group increased their target price on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $290.04.

Insider Activity at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $278.44, for a total value of $2,784,400.00. Following the sale, the senior vice president owned 49,664 shares in the company, valued at $13,828,444.16. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total transaction of $873,093.75. Following the transaction, the director owned 136,321 shares of the company’s stock, valued at $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 50,419 shares of company stock worth $13,399,592 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analog Devices 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.