Washington Trust Bank Has $2.02 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Washington Trust Bank grew its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 306.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,521 shares of the semiconductor company's stock after acquiring an additional 7,179 shares during the period. Washington Trust Bank's holdings in Analog Devices were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of Hawaii grew its holdings in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after acquiring an additional 48 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC increased 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% in the 4th 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 last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock worth $7,746,500 over the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Down 1.4 %

Shares of NASDAQ:ADI traded down $3.05 during midday trading on Wednesday, reaching $210.53. 2,452,928 shares of the company were exchanged, compared to its average volume of 3,110,964. The firm has a market cap of $104.42 billion, a PE ratio of 67.05, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a fifty day simple moving average of $217.13 and a two-hundred day simple moving average of $219.78.

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, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analysts Set New Price Targets

Several research firms have recently commented on ADI. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Maxim Group assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $255.41.

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.