Centric Wealth Management Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Centric Wealth Management increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,530 shares of the semiconductor company’s stock after buying an additional 145 shares during the quarter. Centric Wealth Management’s holdings in Analog Devices were worth $3,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $29,000. Archer Investment Corp boosted its stake in shares of 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 purchasing an additional 73 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC grew its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $24,883,200 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Trading Down 0.9 %

NASDAQ:ADI opened at $217.17 on Friday. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The business has a fifty day moving average of $224.32 and a 200-day moving average of $225.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market cap of $107.82 billion, a price-to-earnings ratio of 66.01, a PEG ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

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.