Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Centric Wealth Management

Centric Wealth Management grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,717 shares of the semiconductor company’s stock after acquiring an additional 187 shares during the period. Centric Wealth Management’s holdings in Analog Devices were worth $2,914,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock valued at $7,746,500 over the last quarter. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $201.67 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The business’s 50 day moving average price is $216.16 and its 200 day moving average price is $219.35. The company has a market cap of $100.02 billion, a price-to-earnings ratio of 64.23, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

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

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.96%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.