Trust Co. of Toledo NA OH reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.3% in the first quarter, HoldingsChannel.com reports. The fund owned 17,197 shares of the semiconductor company’s stock after selling 2,193 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Analog Devices were worth $2,667,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Key Financial Inc bought a new stake in Analog Devices in the fourth quarter worth $28,000. Diversified LLC bought a new stake in Analog Devices in the fourth quarter worth $29,000. Duncker Streett & Co. Inc. bought a new stake in Analog Devices in the fourth quarter worth $38,000. Catalyst Capital Advisors LLC bought a new stake in Analog Devices in the fourth quarter worth $38,000. Finally, Concord Wealth Partners bought a new stake in Analog Devices in the fourth quarter worth $38,000. 91.90% of the stock is owned by institutional investors.
ADI has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Analog Devices from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. Raymond James boosted their price objective on shares of Analog Devices from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. KeyCorp boosted their price objective on shares of Analog Devices from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, January 6th. Oppenheimer restated a “buy” rating and issued a $175.00 price objective on shares of Analog Devices in a research report on Thursday, February 11th. Finally, Credit Suisse Group boosted their price objective on shares of Analog Devices from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Analog Devices has an average rating of “Buy” and an average target price of $157.92.
In related news, SVP Gregory N. Henderson sold 14,557 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $154.60, for a total transaction of $2,250,512.20. Following the transaction, the senior vice president now owns 8,910 shares in the company, valued at $1,377,486. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $148.34, for a total transaction of $1,483,400.00. Following the transaction, the chief executive officer now owns 16,957 shares in the company, valued at approximately $2,515,401.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,958 shares of company stock worth $10,118,958. Insiders own 0.42% of the company’s stock.
ADI traded up $1.79 during midday trading on Thursday, reaching $161.24. The company’s stock had a trading volume of 51,716 shares, compared to its average volume of 3,067,606. The firm has a market capitalization of $59.48 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 2.26 and a beta of 1.31. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. Analog Devices, Inc. has a 1 year low of $95.75 and a 1 year high of $164.40. The stock’s 50-day moving average is $154.64 and its 200-day moving average is $142.21.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 9th. Stockholders of record on Friday, February 26th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, February 25th. This is an increase from Analog Devices’s previous quarterly dividend of $0.62. Analog Devices’s dividend payout ratio is currently 56.21%.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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