Peapack Gladstone Financial Corp Has $14.09 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Peapack Gladstone Financial Corp lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,204 shares of the semiconductor company's stock after selling 3,170 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Analog Devices were worth $14,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the third quarter worth $28,000. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter worth about $29,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Down 0.5 %

NASDAQ:ADI traded down $1.11 during trading hours on Friday, reaching $216.61. 3,067,545 shares of the stock were exchanged, compared to its average volume of 3,225,052. The stock has a market cap of $107.50 billion, a PE ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $181.80 and a twelve month high of $244.14. The firm has a 50 day moving average of $222.16 and a 200 day moving average of $225.53. 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, topping analysts' consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The firm's revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices's dividend payout ratio is currently 111.85%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,000 shares of company stock worth $24,754,600. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADI. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Truist Financial reduced their price target on Analog Devices from $233.00 to $227.00 and set a "hold" rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $249.33.

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.