Keybank National Association OH Sells 3,945 Shares of Analog Devices, Inc. $ADI

Keybank National Association OH reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 14.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,341 shares of the semiconductor company’s stock after selling 3,945 shares during the quarter. Keybank National Association OH’s holdings in Analog Devices were worth $5,735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ADI. Howard Hughes Medical Institute acquired a new position in Analog Devices during the 2nd quarter worth about $25,000. RMG Wealth Management LLC bought a new position in Analog Devices in the second quarter valued at about $26,000. Clayton Financial Group LLC acquired a new position in Analog Devices during the 3rd quarter valued at about $31,000. Valley Wealth Managers Inc. bought a new position in shares of Analog Devices in the 3rd quarter valued at about $38,000. Finally, Sound Income Strategies LLC grew its position in shares of Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADI shares. Stifel Nicolaus upped their target price on shares of Analog Devices from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Morgan Stanley reiterated an “overweight” rating and issued a $314.00 price objective on shares of Analog Devices in a report on Friday, January 16th. Oppenheimer raised their target price on Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. The Goldman Sachs Group restated a “buy” rating and set a $300.00 target price on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, Piper Sandler set a $290.00 price target on shares of Analog Devices in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Analog Devices Trading Down 2.5%

Shares of NASDAQ:ADI opened at $310.88 on Monday. The firm has a market cap of $151.91 billion, a price-to-earnings ratio of 68.18, a PEG ratio of 1.69 and a beta of 1.03. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $319.26. The company’s fifty day simple moving average is $284.07 and its 200 day simple moving average is $254.56. 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 quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the completion of the transaction, the chief executive officer directly owned 155,688 shares in the company, valued at $42,825,098.16. This represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the firm’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 completion of the transaction, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. The trade was a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 43,544 shares of company stock worth $11,979,061. 0.36% of the stock is owned by 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.