FineMark National Bank & Trust Purchases 370 Shares of Analog Devices, Inc. (NASDAQ:ADI)

FineMark National Bank & Trust raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,891 shares of the semiconductor company’s stock after purchasing an additional 370 shares during the period. FineMark National Bank & Trust’s holdings in Analog Devices were worth $8,516,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MGO One Seven LLC lifted its position in Analog Devices by 14.6% during the third quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock valued at $502,000 after purchasing an additional 366 shares during the last quarter. Syon Capital LLC bought a new position in shares of Analog Devices during the 3rd quarter valued at about $498,000. NBC Securities Inc. purchased a new position in shares of Analog Devices during the 3rd quarter valued at about $123,000. Pinnacle Financial Partners Inc raised its stake in shares of Analog Devices by 606.5% during the third quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock worth $400,000 after acquiring an additional 1,959 shares in the last quarter. Finally, Centric Wealth Management lifted its holdings in shares of Analog Devices by 3.2% in the 3rd quarter. Centric Wealth Management now owns 11,447 shares of the semiconductor company’s stock worth $2,004,000 after acquiring an additional 351 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other Analog Devices 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADI shares. Sanford C. Bernstein boosted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays upped their price target on shares of Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $237.75.

Analog Devices Stock Performance

Shares of ADI stock traded down $6.38 during trading hours on Thursday, reaching $233.78. The company had a trading volume of 3,456,729 shares, compared to its average volume of 3,348,301. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The business has a fifty day moving average price of $199.12 and a 200-day moving average price of $192.74. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $241.88. The firm has a market cap of $115.93 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 5.44 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.83 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 5.85 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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.