Zurcher Kantonalbank Zurich Cantonalbank Has $19.20 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 50.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,704 shares of the semiconductor company’s stock after selling 97,820 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Analog Devices were worth $19,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Amarillo National Bank grew its position in Analog Devices by 3.7% in the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the period. Keystone Financial Services grew its position in Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares during the period. Ancora Advisors LLC grew its position in Analog Devices by 2.1% in the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 57 shares during the period. Legacy Advisors LLC grew 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 purchasing an additional 59 shares during the period. Finally, MRA Advisory Group grew its position 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 purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was 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 in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ADI shares. Oppenheimer reissued an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Truist Financial cut 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. KeyCorp lifted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday. They set an “outperform” rating and a $254.00 price objective on the stock. Finally, Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Trading Down 1.0 %

NASDAQ ADI opened at $187.58 on Friday. The stock has a market capitalization of $93.02 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 4.80 and a beta of 1.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. 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’s fifty day moving average is $193.05 and its 200-day moving average is $186.47.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $2.75 EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. Equities research analysts predict 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 is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is currently 65.83%.

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.