Keybank National Association OH Has $3.10 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Keybank National Association OH raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,572 shares of the semiconductor company’s stock after acquiring an additional 2,113 shares during the quarter. Keybank National Association OH’s holdings in Analog Devices were worth $3,096,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its holdings in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the last quarter. Holocene Advisors LP raised its stake in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Barclays lowered their price objective on shares of 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. Finally, Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $222.77 on Friday. The company has a market capitalization of $110.49 billion, a price-to-earnings ratio of 70.95, a P/E/G ratio of 2.85 and a beta of 1.07. The firm’s 50 day simple moving average is $218.30 and its 200 day simple moving average is $221.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has initiated a share buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. 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 1.78%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is 126.11%.

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.