Stock Yards Bank & Trust Co. Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Stock Yards Bank & Trust Co. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,385 shares of the semiconductor company’s stock after selling 1,449 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $26,683,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. Cetera Trust Company N.A purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $29,000. Northwest Capital Management Inc boosted its stake in shares of Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices during the third quarter valued at approximately $29,000. Finally, CGC Financial Services LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of ADI stock traded up $3.68 during trading hours on Monday, reaching $187.04. 844,946 shares of the company traded hands, compared to its average volume of 3,312,040. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company has a market cap of $92.76 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.60 and a beta of 1.17. The firm has a 50-day moving average price of $192.82 and a 200 day moving average price of $186.72.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADI. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Truist Financial dropped their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Barclays raised their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Evercore ISI began coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Finally, KeyCorp raised their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

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.