Stock Yards Bank & Trust Co. Has $26.68 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Stock Yards Bank & Trust Co. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,385 shares of the semiconductor company’s stock after selling 1,449 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $26,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after buying an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research analyst reports. Barclays upped their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Oppenheimer reiterated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Evercore ISI started coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Finally, Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Up 2.0 %

Shares of NASDAQ:ADI traded up $3.68 during trading on Monday, hitting $187.04. 844,946 shares of the company were exchanged, compared to its average volume of 3,312,040. The stock has a market cap of $92.76 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 4.60 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The firm has a fifty day moving average price of $192.82 and a two-hundred day moving average price of $186.72. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.97%. Analog Devices’s payout ratio is presently 65.83%.

Insider Buying and Selling

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by 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.