M&T Bank Corp Sells 19,080 Shares of Analog Devices, Inc. (NASDAQ:ADI)

M&T Bank Corp trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 415,054 shares of the semiconductor company's stock after selling 19,080 shares during the quarter. M&T Bank Corp owned 0.08% of Analog Devices worth $95,533,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank raised its holdings in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock valued at $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after buying an additional 7,386 shares during the last quarter. Summit Global Investments bought a new stake in Analog Devices during the 3rd quarter valued at $867,000. Finally, Versor Investments LP bought a new stake in Analog Devices during the 3rd quarter valued at $952,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,000 shares of company stock worth $22,596,300. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ADI shares. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Stock Down 1.6 %

ADI stock traded down $3.43 during trading on Tuesday, hitting $215.61. 2,678,976 shares of the stock traded hands, compared to its average volume of 3,222,886. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The firm's 50 day moving average is $222.95 and its two-hundred day moving average is $225.88. The stock has a market cap of $107.01 billion, a price-to-earnings ratio of 65.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm posted $2.01 EPS. Analog Devices's revenue for the quarter was down 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices's dividend payout ratio is currently 111.85%.

Analog Devices 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.