Stock Yards Bank & Trust Co. Trims Stake in Analog Devices, Inc. $ADI

Stock Yards Bank & Trust Co. lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,830 shares of the semiconductor company’s stock after selling 2,798 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $9,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Quent Capital LLC grew its holdings in Analog Devices by 2.4% during the third quarter. Quent Capital LLC now owns 1,810 shares of the semiconductor company’s stock valued at $445,000 after purchasing an additional 42 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Analog Devices by 2.5% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock valued at $441,000 after buying an additional 44 shares in the last quarter. Klingman & Associates LLC grew its stake in shares of Analog Devices by 3.7% during the 3rd quarter. Klingman & Associates LLC now owns 1,274 shares of the semiconductor company’s stock valued at $313,000 after acquiring an additional 45 shares during the period. Bennett Associates Wealth Management increased its holdings in Analog Devices by 2.9% in the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $387,000 after acquiring an additional 46 shares in the last quarter. Finally, Solstein Capital LLC increased its holdings in Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after acquiring an additional 46 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director owned 142,571 shares in the company, valued at $32,821,269.91. The trade was a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 155,688 shares of the company’s stock, valued at approximately $42,825,098.16. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 in the last three months. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADI shares. Piper Sandler set a $290.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. The Goldman Sachs Group restated a “buy” rating and issued a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Analog Devices in a research note on Monday, December 29th. Robert W. Baird lifted their target price on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $314.00 price target on shares of Analog Devices in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $305.52.

Analog Devices Trading Down 1.5%

ADI opened at $295.67 on Wednesday. The stock has a 50-day moving average of $271.86 and a 200 day moving average of $250.83. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $309.17. The firm has a market cap of $144.77 billion, a P/E ratio of 64.84, a P/E/G ratio of 1.62 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

Analog Devices 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.