Centric Wealth Management Purchases 693 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Centric Wealth Management grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,140 shares of the semiconductor company’s stock after acquiring an additional 693 shares during the quarter. Centric Wealth Management’s holdings in Analog Devices were worth $2,338,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB increased its stake in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after acquiring an additional 1,486,180 shares during the period. International Assets Investment Management LLC raised its position in Analog Devices by 20,527.8% in the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the period. Finally, Invesco Ltd. boosted its holdings in Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after purchasing an additional 701,367 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.2 %

Shares of Analog Devices stock traded down $0.34 during trading on Wednesday, reaching $203.23. 1,534,318 shares of the company were exchanged, compared to its average volume of 3,320,259. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $205.77. The business has a 50-day moving average price of $194.85 and a 200-day moving average price of $188.89. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $100.78 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 5.01 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 EPS. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research report on Thursday, January 18th. Truist Financial decreased their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, KeyCorp lifted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Insiders Place Their Bets

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, 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. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

About Analog Devices

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.