M&T Bank Corp Has $88.35 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

M&T Bank Corp raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 444,961 shares of the semiconductor company’s stock after acquiring an additional 14,124 shares during the period. M&T Bank Corp owned about 0.09% of Analog Devices worth $88,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ADI. Amarillo National Bank boosted its stake in Analog Devices by 3.7% in the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 54 shares during the period. Keystone Financial Services boosted its position in shares of Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after buying an additional 55 shares during the period. Ancora Advisors LLC grew its holdings in shares of Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after buying an additional 57 shares in the last quarter. Legacy Advisors LLC raised its position in Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 59 shares during the last quarter. Finally, MRA Advisory Group lifted its stake in Analog Devices by 2.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a research note on Monday, March 4th. Morgan Stanley restated an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, 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 research note on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Price Performance

NASDAQ:ADI traded up $3.14 during trading hours on Friday, reaching $199.63. 2,372,862 shares of the company were exchanged, compared to its average volume of 3,339,473. The company has a market capitalization of $99.00 billion, a P/E ratio of 35.71, a P/E/G ratio of 5.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The business has a 50 day moving average of $194.27 and a 200 day moving average of $188.15. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,874,613 over the last three months. Corporate 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.