Hilltop National Bank Sells 54 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Hilltop National Bank cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 462 shares of the semiconductor company’s stock after selling 54 shares during the period. Hilltop National Bank’s holdings in Analog Devices were worth $105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at about $1,225,227,000. Swedbank AB bought a new position in Analog Devices in the 1st quarter valued at about $537,171,000. Vanguard Group Inc. raised its holdings in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its position in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Bank of America boosted their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley raised their target price on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Citigroup increased their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Analog Devices Trading Down 1.7 %

NASDAQ:ADI traded down $3.57 during mid-day trading on Wednesday, hitting $201.31. 4,175,723 shares of the company’s stock were exchanged, compared to its average volume of 3,367,572. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $99.89 billion, a P/E ratio of 47.39, a PEG ratio of 3.69 and a beta of 1.08. The company has a 50 day simple moving average of $230.18 and a 200-day simple moving average of $209.38.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.83 earnings per share. As a group, research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,487,947.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock worth $10,791,543 over the last three months. 0.31% of the stock is owned by company insiders.

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.