Zions Bancorporation N.A. Has $1.21 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Zions Bancorporation N.A. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 40.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,715 shares of the semiconductor company’s stock after purchasing an additional 1,644 shares during the period. Zions Bancorporation N.A.’s holdings in Analog Devices were worth $1,214,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the 4th quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in Analog Devices during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of ADI stock opened at $213.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock’s fifty day simple moving average is $217.13 and its 200 day simple moving average is $219.78. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. On average, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.85%. Analog Devices’s dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,082,860 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Lake Street Capital started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.