Bath Savings Trust Co Buys 5,356 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bath Savings Trust Co increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 63.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,818 shares of the semiconductor company’s stock after purchasing an additional 5,356 shares during the period. Bath Savings Trust Co’s holdings in Analog Devices were worth $2,692,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in Analog Devices by 1.2% in the 1st quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after acquiring an additional 238,249 shares in the last quarter. FMR LLC raised its holdings in Analog Devices by 72.8% in the 1st quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after acquiring an additional 5,748,969 shares in the last quarter. Geode Capital Management LLC raised its holdings in Analog Devices by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 9,393,867 shares of the semiconductor company’s stock valued at $1,848,963,000 after acquiring an additional 67,674 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Analog Devices by 3.6% in the 1st quarter. Ameriprise Financial Inc. now owns 8,731,123 shares of the semiconductor company’s stock valued at $1,725,438,000 after acquiring an additional 299,904 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Analog Devices by 1.9% in the 4th quarter. Wells Fargo & Company MN now owns 8,397,341 shares of the semiconductor company’s stock valued at $1,377,416,000 after acquiring an additional 153,727 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $182.60, for a total value of $1,826,000.00. Following the sale, the chief executive officer now owns 70,713 shares of the company’s stock, valued at $12,912,193.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $5,661,500. 0.46% of the stock is owned by insiders.

Analog Devices Stock Up 0.9 %

Shares of ADI traded up $1.66 during midday trading on Monday, hitting $179.80. The stock had a trading volume of 1,126,601 shares, compared to its average volume of 3,421,298. The company has a 50 day simple moving average of $185.76 and a two-hundred day simple moving average of $185.76. Analog Devices, Inc. has a twelve month low of $133.48 and a twelve month high of $200.10. The firm has a market cap of $89.60 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.71 and a quick ratio of 1.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business earned $2.52 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 10.12 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, September 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s dividend payout ratio is currently 46.74%.

Analysts Set New Price Targets

ADI has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Analog Devices from $195.00 to $185.00 and set an “equal weight” rating for the company in a report on Thursday, August 24th. Robert W. Baird decreased their price target on Analog Devices from $235.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. Bank of America increased their price target on Analog Devices from $205.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 18th. Piper Sandler lowered Analog Devices from an “overweight” rating to a “neutral” rating and set a $190.00 price target on the stock. in a research report on Thursday, August 24th. Finally, Truist Financial decreased their price objective on Analog Devices from $251.00 to $213.00 in a research report on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $203.79.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.