Rockland Trust Co. Takes $2.66 Million Position in Analog Devices, Inc. $ADI

Rockland Trust Co. bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 10,836 shares of the semiconductor company’s stock, valued at approximately $2,662,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Norges Bank bought a new stake in shares of Analog Devices during the second quarter valued at approximately $1,803,377,000. Marshall Wace LLP grew its position in Analog Devices by 948.2% in the 2nd quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after purchasing an additional 982,385 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Analog Devices by 47.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after purchasing an additional 882,909 shares in the last quarter. Vanguard Group Inc. increased its stake in Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after purchasing an additional 761,861 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Analog Devices by 684.6% during the third quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after buying an additional 752,411 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $322.96 on Tuesday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $327.74. The company’s 50 day moving average price is $291.57 and its two-hundred day moving average price is $258.09. The stock has a market cap of $157.81 billion, a P/E ratio of 70.82, a P/E/G ratio of 1.74 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its 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. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

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

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $270.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Citigroup raised their price target on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Evercore decreased their price objective on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Oppenheimer raised their target price on Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 target price on shares of Analog Devices in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.22.

Insider Activity at Analog Devices

In related news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were 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 approximately $5,258,381.39. The trade was a 30.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $317.30, for a total transaction of $991,562.50. Following the transaction, the director owned 123,821 shares of the company’s stock, valued at approximately $39,288,403.30. The trade was a 2.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 53,544 shares of company stock worth $15,320,417. 0.36% of the stock is owned by company insiders.

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.