Heritage Trust Co Buys Shares of 2,033 Analog Devices, Inc. (NASDAQ:ADI)

Heritage Trust Co bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,033 shares of the semiconductor company's stock, valued at approximately $432,000.

A number of other hedge funds have also added to or reduced their stakes in ADI. Wellington Management Group LLP raised its stake in shares of Analog Devices by 16.6% in the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company's stock worth $9,978,000 after buying an additional 6,164 shares during the period. Invst LLC boosted its stake in Analog Devices by 7.7% during the third quarter. Invst LLC now owns 974 shares of the semiconductor company's stock valued at $224,000 after buying an additional 70 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Analog Devices by 4.1% in the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company's stock valued at $751,000 after purchasing an additional 128 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Analog Devices by 33.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company's stock worth $572,000 after buying an additional 619 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in Analog Devices by 0.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company's stock valued at $1,768,000 after purchasing an additional 65 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock worth $5,591,600. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

Shares of ADI traded up $0.94 during trading hours on Tuesday, hitting $179.54. The stock had a trading volume of 3,033,786 shares, compared to its average volume of 3,448,859. The firm has a market capitalization of $89.05 billion, a price-to-earnings ratio of 57.18, a PEG ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a 50-day moving average price of $208.27 and a 200 day moving average price of $215.55. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week 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, beating analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is presently 126.11%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. UBS Group upped their target price on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, Benchmark upped their price objective on Analog Devices from $245.00 to $275.00 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.73.

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.