Eastern Bank Has $39.43 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Eastern Bank boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,576 shares of the semiconductor company's stock after acquiring an additional 43,712 shares during the quarter. Eastern Bank's holdings in Analog Devices were worth $39,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its position in Analog Devices by 1.6% in the 2nd quarter. Federated Hermes Inc. now owns 32,016 shares of the semiconductor company's stock worth $7,308,000 after purchasing an additional 495 shares during the last quarter. 1ST Source Bank boosted its holdings in Analog Devices by 3.1% in the second quarter. 1ST Source Bank now owns 1,809 shares of the semiconductor company's stock valued at $413,000 after acquiring an additional 55 shares during the last quarter. Fiduciary Group LLC boosted its holdings in Analog Devices by 32.9% in the second quarter. Fiduciary Group LLC now owns 2,829 shares of the semiconductor company's stock valued at $646,000 after acquiring an additional 701 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its position in Analog Devices by 5.2% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 22,884 shares of the semiconductor company's stock worth $5,224,000 after purchasing an additional 1,124 shares during the period. Finally, Parallel Advisors LLC lifted its position in Analog Devices by 8.4% during the 2nd quarter. Parallel Advisors LLC now owns 17,121 shares of the semiconductor company's stock valued at $3,908,000 after purchasing an additional 1,328 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research note on Friday. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price objective for the company. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Finally, Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $249.48.

Analog Devices Stock Up 0.3 %

Analog Devices stock traded up $0.58 during midday trading on Monday, reaching $212.95. The stock had a trading volume of 3,959,573 shares, compared to its average volume of 3,165,081. The stock has a market capitalization of $105.69 billion, a P/E ratio of 64.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The firm's fifty day simple moving average is $216.25 and its 200-day simple moving average is $222.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. Company insiders own 0.31% of the company's stock.

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.