Glenview Trust co Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Glenview Trust co raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,925 shares of the semiconductor company's stock after buying an additional 4,190 shares during the period. Glenview Trust co's holdings in Analog Devices were worth $33,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank lifted its holdings in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares during the period. Curbstone Financial Management Corp acquired a new position in shares of Analog Devices during the fourth quarter worth $460,000. Finally, Czech National Bank lifted its holdings in shares of Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after purchasing an additional 6,566 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

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Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent research reports. Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a research note on Friday, February 14th. Finally, UBS Group lifted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.

Analog Devices Stock Down 1.9 %

Shares of NASDAQ:ADI traded down $4.07 during midday trading on Thursday, hitting $205.90. 2,775,421 shares of the company's stock were exchanged, compared to its average volume of 3,099,103. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a 50 day moving average price of $217.62 and a 200-day moving average price of $220.15. The company has a market cap of $102.12 billion, a PE ratio of 65.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.92%. Analog Devices's payout ratio is presently 126.11%.

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.