Ledyard National Bank Buys 977 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Ledyard National Bank grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,431 shares of the semiconductor company’s stock after acquiring an additional 977 shares during the period. Ledyard National Bank’s holdings in Analog Devices were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. raised its stake in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices in the third quarter worth about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the fourth quarter worth about $29,000. Northwest Capital Management Inc raised 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 worth $32,000 after buying an additional 135 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $32,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADI. KeyCorp boosted their price target on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Wolfe Research raised shares of 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 shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,825,113 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI traded down $1.79 during trading hours on Tuesday, hitting $202.11. The company had a trading volume of 442,049 shares, compared to its average volume of 3,344,933. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $193.76 and a 200-day moving average of $187.66. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The firm has a market cap of $100.23 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 5.07 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $2.75 earnings per share. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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.