Commerce Bank Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Commerce Bank grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 28,525 shares of the semiconductor company’s stock after purchasing an additional 2,233 shares during the quarter. Commerce Bank’s holdings in Analog Devices were worth $5,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Analog Devices by 2.1% in the fourth quarter. US Bancorp DE now owns 508,183 shares of the semiconductor company’s stock valued at $100,905,000 after purchasing an additional 10,252 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Analog Devices by 7.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 48,229 shares of the semiconductor company’s stock valued at $9,576,000 after purchasing an additional 3,549 shares during the period. Enterprise Financial Services Corp acquired a new position in Analog Devices during the fourth quarter worth $205,000. Beaton Management Co. Inc. acquired a new position in Analog Devices during the fourth quarter worth $557,000. Finally, InterOcean Capital Group LLC grew its holdings in Analog Devices by 2.9% during the fourth quarter. InterOcean Capital Group LLC now owns 3,067 shares of the semiconductor company’s stock worth $609,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $232.51 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $200.67 and its 200 day moving average price is $193.66. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The company has a market capitalization of $115.38 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 5.77 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (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 the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the business posted $2.83 EPS. On average, research analysts predict that Analog Devices, Inc. will post 6.16 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna upped their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday. Jefferies Financial Group assumed coverage on Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday. Finally, Barclays upped their target price on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

Insider Buying and Selling at Analog Devices

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,874,613 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Company 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.