First Hawaiian Bank Sells 864 Shares of Analog Devices, Inc. (NASDAQ:ADI)

First Hawaiian Bank trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,143 shares of the semiconductor company’s stock after selling 864 shares during the quarter. First Hawaiian Bank’s holdings in Analog Devices were worth $1,093,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter worth approximately $28,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Analog Devices in the third quarter worth $43,000. Reston Wealth Management LLC bought a new stake in Analog Devices in the third quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in Analog Devices during the 3rd quarter valued at $80,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.1 %

Analog Devices stock opened at $220.44 on Friday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The business’s fifty day moving average is $216.74 and its 200 day moving average is $223.08. The stock has a market capitalization of $109.40 billion, a PE ratio of 67.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.67%. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value 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. Insiders sold 50,000 shares of company stock valued at $11,029,300 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADI shares. Truist Financial dropped their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

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.