Trustmark National Bank Trust Department Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Trustmark National Bank Trust Department trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,236 shares of the semiconductor company’s stock after selling 1,876 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Analog Devices were worth $1,604,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concord Wealth Partners increased its holdings in Analog Devices by 107.9% in the 2nd quarter. Concord Wealth Partners now owns 131 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in Analog Devices during the 1st quarter worth $27,000. Magellan Asset Management Ltd acquired a new stake in Analog Devices during the 1st quarter worth $30,000. Duncker Streett & Co. Inc. boosted its stake in Analog Devices by 66.3% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 153 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 61 shares during the last quarter. Finally, Archer Investment Corp acquired a new stake in Analog Devices during the 2nd quarter worth $30,000. 85.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $12,912,193.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADI shares. Raymond James lowered their target price on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, August 24th. The Goldman Sachs Group lowered their price target on shares of Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. StockNews.com assumed coverage on shares of Analog Devices in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Susquehanna reissued a “positive” rating and set a $215.00 price target on shares of Analog Devices in a research report on Monday, September 18th. Finally, Morgan Stanley raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $176.00 to $225.00 in a research report on Friday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $205.46.

Analog Devices Stock Performance

Shares of ADI opened at $183.05 on Friday. The stock has a 50 day moving average price of $171.62 and a 200 day moving average price of $180.80. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $91.22 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $200.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.52 earnings per share. Research analysts predict that Analog Devices, Inc. will post 10.08 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s payout ratio is currently 46.74%.

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.