Clearstead Trust LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Clearstead Trust LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 814.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,287 shares of the semiconductor company’s stock after buying an additional 2,037 shares during the period. Clearstead Trust LLC’s holdings in Analog Devices were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices in the third quarter worth approximately $29,000. Cetera Trust Company N.A purchased a new position in shares of Analog Devices during the 4th quarter worth $29,000. Northwest Capital Management Inc grew its position in shares of Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Analog Devices in the 4th quarter worth $32,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.6 %

Shares of ADI traded up $3.14 during midday trading on Friday, hitting $199.63. The stock had a trading volume of 2,372,862 shares, compared to its average volume of 3,339,473. The stock’s 50 day moving average is $194.27 and its 200 day moving average is $188.15. The firm has a market cap of $99.00 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 4.93 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. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $2.75 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. As a group, analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.84%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. KeyCorp lifted their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Oppenheimer reissued an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the 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 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 SEC, which can be accessed through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the 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 of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, April 1st. The shares were 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 owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 in the last three months. Company 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.