Zurcher Kantonalbank Zurich Cantonalbank Sells 97,820 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 50.3% during the 4th quarter, Holdings Channel reports. The firm owned 96,704 shares of the semiconductor company’s stock after selling 97,820 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Analog Devices were worth $19,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Norges Bank bought a new stake in Analog Devices during the 4th quarter valued at approximately $1,040,194,000. Moneta Group Investment Advisors LLC raised its stake in Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Analog Devices by 236.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after buying an additional 1,625,377 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after buying an additional 1,486,180 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial cut their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. The Goldman Sachs Group raised their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Oppenheimer restated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. Finally, Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

ADI opened at $187.58 on Friday. The business has a fifty day moving average of $193.05 and a 200 day moving average of $186.47. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. 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 stock has a market cap of $93.02 billion, a P/E ratio of 33.56, a PEG ratio of 4.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.75 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. Analog Devices’s payout ratio is 65.83%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

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.