Ledyard National Bank Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Ledyard National Bank grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 39.8% during the 4th quarter, Holdings Channel reports. The fund owned 3,431 shares of the semiconductor company’s stock after purchasing an additional 977 shares during the period. Ledyard National Bank’s holdings in Analog Devices were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings 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 buying an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB raised its position in 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 acquiring an additional 1,486,180 shares during the period. International Assets Investment Management LLC raised its position in 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 acquiring an additional 930,732 shares during the period. Alecta Tjanstepension Omsesidigt raised its position in 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 acquiring an additional 775,000 shares during the period. Finally, Invesco Ltd. raised its position in 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 acquiring an additional 701,367 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,825,113 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Down 0.9 %

Analog Devices stock traded down $1.79 during trading on Tuesday, reaching $202.11. The stock had a trading volume of 442,049 shares, compared to its average volume of 3,344,933. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. The business has a 50 day moving average price of $193.76 and a 200 day moving average price of $187.66. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $100.23 billion, a PE ratio of 36.48, a P/E/G ratio of 5.07 and a beta of 1.17.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADI. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research report on Thursday, January 4th. Barclays increased their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Evercore ISI initiated coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Finally, The Goldman Sachs Group increased their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

About Analog Devices

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.