Huntington National Bank Purchases 6,525 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Huntington National Bank boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 477,683 shares of the semiconductor company's stock after acquiring an additional 6,525 shares during the quarter. Huntington National Bank owned 0.10% of Analog Devices worth $101,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADI. Midwest Professional Planners LTD. lifted its position in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its position in shares of Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC lifted its position in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC lifted its position in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC boosted its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Morgan Stanley boosted their target price on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company'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 sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business'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 transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,684 shares of company stock worth $5,591,600. Corporate insiders own 0.33% of the company's stock.

Analog Devices Price Performance

ADI stock traded up $3.26 during midday trading on Monday, reaching $167.86. 5,435,558 shares of the stock were exchanged, compared to its average volume of 3,898,838. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. 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 market capitalization of $83.26 billion, a PE ratio of 53.45, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a fifty day moving average price of $213.22 and a 200 day moving average price of $218.28.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $1.73 EPS. The company's revenue was down 3.6% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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 2.36%. Analog Devices's payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.