Trust Co. of Oklahoma Sells 100 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Trust Co. of Oklahoma trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,243 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Trust Co. of Oklahoma’s holdings in Analog Devices were worth $242,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Silicon Valley Capital Partners purchased a new stake in Analog Devices during the 1st quarter valued at about $27,000. Magellan Asset Management Ltd purchased a new stake in Analog Devices during the 1st quarter valued at about $30,000. Fortis Capital Advisors LLC purchased a new stake in Analog Devices during the 1st quarter valued at about $31,000. Quarry LP grew its position in Analog Devices by 267.4% during the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 123 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Analog Devices during the 1st quarter valued at about $39,000. 85.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on ADI shares. Truist Financial cut their price objective on shares of Analog Devices from $251.00 to $213.00 in a research report on Thursday, May 25th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, August 24th. JPMorgan Chase & Co. dropped their price target on shares of Analog Devices from $210.00 to $205.00 in a report on Tuesday, May 30th. Robert W. Baird dropped their price target on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, August 24th. Finally, UBS Group raised their price target on shares of Analog Devices from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.21.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $197.64, for a total transaction of $1,976,400.00. Following the completion of the transaction, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $13,975,717.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 30,000 shares of company stock valued at $5,661,500 over the last three months. 0.46% of the stock is owned by company insiders.

Analog Devices Price Performance

ADI traded up $1.08 during trading hours on Monday, hitting $179.22. The company’s stock had a trading volume of 594,158 shares, compared to its average volume of 3,418,662. The business’s 50-day moving average price is $185.76 and its 200-day moving average price is $185.76. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $200.10. The stock has a market cap of $89.31 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.80 and a beta of 1.17. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s payout ratio is 46.74%.

Analog Devices 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.