City State Bank Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

City State Bank boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 682 shares of the semiconductor company’s stock after acquiring an additional 160 shares during the quarter. City State Bank’s holdings in Analog Devices were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Norges Bank purchased a new position in Analog Devices during the fourth quarter valued at $1,225,227,000. Finally, Capital International Investors lifted its position in Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after acquiring an additional 644,945 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI stock traded up $4.32 during midday trading on Tuesday, hitting $204.88. The company’s stock had a trading volume of 4,669,469 shares, compared to its average volume of 3,362,161. The firm has a market capitalization of $101.66 billion, a price-to-earnings ratio of 48.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a 50 day moving average of $230.75 and a two-hundred day moving average of $209.31.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.83 EPS. On average, analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analyst Ratings Changes

Several research firms recently weighed in on ADI. Truist Financial upped their price target on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $250.00 target price on the stock. Oppenheimer upped their price objective on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Stifel Nicolaus lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, The Goldman Sachs Group lifted their price objective on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Activity

In other news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,642 shares of company stock worth $10,791,543. 0.31% of the stock is currently owned by insiders.

About Analog Devices

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.