Analog Devices, Inc. $ADI Stock Position Increased by Park National Corp OH

Park National Corp OH raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 194,566 shares of the semiconductor company’s stock after purchasing an additional 2,589 shares during the quarter. Analog Devices accounts for about 1.5% of Park National Corp OH’s investment portfolio, making the stock its 10th biggest holding. Park National Corp OH’s holdings in Analog Devices were worth $47,805,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. increased its holdings in Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after buying an additional 761,861 shares in the last quarter. State Street Corp grew its stake in shares of Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after acquiring an additional 506,507 shares during the period. Geode Capital Management LLC grew its position in Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after buying an additional 2,407,460 shares during the period. Finally, Norges Bank purchased a new position in shares of Analog Devices in the 2nd quarter worth $1,803,377,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ADI. Robert W. Baird increased their target price on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Wells Fargo & Company raised their price objective on shares of Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. BNP Paribas Exane assumed coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and set a $300.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Finally, Bank of America lifted their price objective on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.61.

Analog Devices Stock Up 0.4%

NASDAQ ADI opened at $280.44 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The stock’s 50 day moving average is $246.90 and its 200 day moving average is $240.92. The stock has a market cap of $137.32 billion, a PE ratio of 61.50, a P/E/G ratio of 1.55 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s dividend payout ratio is presently 86.84%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director directly owned 142,571 shares in the company, valued at approximately $32,821,269.91. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 35,419 shares of company stock worth $8,791,598. 0.33% of the stock is owned by corporate insiders.

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.