Cullen Frost Bankers Inc. Acquires 2,226 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cullen Frost Bankers Inc. increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,914 shares of the semiconductor company’s stock after acquiring an additional 2,226 shares during the period. Cullen Frost Bankers Inc.’s holdings in Analog Devices were worth $16,979,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter worth approximately $28,000. Mainstream Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth approximately $30,000. Archer Investment Corp grew its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners bought a new stake in Analog Devices during the 4th quarter worth approximately $33,000. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter worth approximately $43,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ADI shares. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $229.47 on Thursday. The company has a market capitalization of $113.81 billion, a PE ratio of 73.08, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $218.21 and its 200 day simple moving average is $221.22.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its board has initiated a share buyback 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 generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

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.