Zurcher Kantonalbank Zurich Cantonalbank Buys 10,883 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,554 shares of the semiconductor company’s stock after purchasing an additional 10,883 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Analog Devices were worth $26,137,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hancock Whitney Corp lifted its position in shares of Analog Devices by 7.8% in the 1st quarter. Hancock Whitney Corp now owns 1,257 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 91 shares during the period. PGGM Investments purchased a new stake in Analog Devices during the first quarter worth $166,000. Cetera Investment Advisers boosted its position in Analog Devices by 588.7% during the 1st quarter. Cetera Investment Advisers now owns 94,201 shares of the semiconductor company’s stock valued at $18,632,000 after acquiring an additional 80,522 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Analog Devices by 59.5% in the 1st quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock valued at $2,571,000 after acquiring an additional 4,850 shares during the period. Finally, Park Place Capital Corp raised its position in shares of Analog Devices by 59.4% in the 2nd quarter. Park Place Capital Corp now owns 1,412 shares of the semiconductor company’s stock worth $322,000 after acquiring an additional 526 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Truist Financial decreased their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $24,883,200 over the last quarter. 0.31% of the stock is currently owned by insiders.

Analog Devices Trading Up 0.4 %

Shares of Analog Devices stock opened at $218.05 on Friday. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. The stock has a market cap of $108.22 billion, a PE ratio of 66.28, a price-to-earnings-growth ratio of 3.35 and a beta of 1.08. The firm has a fifty day moving average price of $224.14 and a 200 day moving average price of $225.86.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Analog Devices 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.