Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its position in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,489 shares of the semiconductor company’s stock after acquiring an additional 207 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Analog Devices were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC boosted its holdings in Analog Devices by 2.1% in the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its holdings in Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 59 shares during the last quarter. MRA Advisory Group boosted its holdings in Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 61 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Analog Devices by 3.1% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,083 shares of the semiconductor company’s stock worth $365,000 after purchasing an additional 62 shares in the last quarter. Finally, Sage Mountain Advisors LLC lifted its stake in shares of Analog Devices by 5.4% during the third quarter. Sage Mountain Advisors LLC now owns 1,227 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 0.2 %

Shares of Analog Devices stock opened at $195.36 on Thursday. 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 firm has a market cap of $96.88 billion, a P/E ratio of 34.95, a P/E/G ratio of 4.93 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $202.77. The business has a 50-day moving average price of $193.00 and a 200 day moving average price of $185.06.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.75 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.88%. Analog Devices’s dividend payout ratio is 65.83%.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. Barclays boosted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Oppenheimer restated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

Read Our Latest Research Report on Analog Devices

Insider Activity

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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 directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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 directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,228 shares of company stock valued at $4,137,802. 0.31% of the stock is currently owned by insiders.

About Analog Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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