M&T Bank Corp Purchases 17,858 Shares of Analog Devices, Inc. (NASDAQ:ADI)

M&T Bank Corp raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 432,912 shares of the semiconductor company's stock after buying an additional 17,858 shares during the period. M&T Bank Corp owned about 0.09% of Analog Devices worth $91,976,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ADI. Bank of Hawaii boosted its stake in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after purchasing an additional 48 shares during the period. NTV Asset Management LLC lifted its holdings in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 54 shares in the last quarter. West Oak Capital LLC raised its position in Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. lifted its stake in Analog Devices by 0.8% in the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company's stock worth $1,568,000 after acquiring an additional 57 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC boosted its position in Analog Devices by 4.3% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company's stock worth $299,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on 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 approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analog Devices Trading Up 1.5 %

Shares of ADI traded up $3.29 during trading hours on Wednesday, reaching $229.47. The stock had a trading volume of 3,926,337 shares, compared to its average volume of 3,901,344. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.81 billion, a P/E ratio of 73.08, a P/E/G ratio of 2.85 and a beta of 1.04. The firm has a 50-day moving average of $218.21 and a 200 day moving average of $221.22.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The business 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%. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.73%. Analog Devices's dividend payout ratio is presently 126.11%.

Wall Street Analysts Forecast Growth

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

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.