1,106 Shares in Analog Devices, Inc. (NASDAQ:ADI) Bought by Mechanics Bank Trust Department

Mechanics Bank Trust Department purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,106 shares of the semiconductor company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Grove Bank & Trust boosted its position in shares of Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares in the last quarter. Quotient Wealth Partners LLC raised its position in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares in the last quarter. Bank of Hawaii lifted its stake in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC boosted its holdings in Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 50 shares in the last quarter. Finally, DT Investment Partners LLC grew its stake in shares of Analog Devices by 0.7% in the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Up 1.9 %

Shares of ADI opened at $219.16 on Tuesday. The business’s fifty day moving average price is $215.64 and its two-hundred day moving average price is $222.47. The firm has a market capitalization of $108.77 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 over the last ninety days. Company insiders own 0.31% of the company’s stock.

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.