1,761 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,761 shares of the semiconductor company’s stock, valued at approximately $402,000.

Several other large investors have also modified their holdings of the company. 9258 Wealth Management LLC boosted its stake in Analog Devices by 3.9% during the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares during the period. Level Four Advisory Services LLC boosted its stake in shares of Analog Devices by 17.3% during the fourth quarter. Level Four Advisory Services LLC now owns 2,082 shares of the semiconductor company’s stock worth $413,000 after buying an additional 307 shares during the period. Gladstone Institutional Advisory LLC grew its holdings in shares of Analog Devices by 17.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,564 shares of the semiconductor company’s stock worth $311,000 after buying an additional 228 shares during the last quarter. D.A. Davidson & CO. increased its position in Analog Devices by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 6,860 shares of the semiconductor company’s stock valued at $1,362,000 after acquiring an additional 146 shares during the period. Finally, InterOcean Capital Group LLC raised its stake in Analog Devices by 2.9% during the 4th quarter. InterOcean Capital Group LLC now owns 3,067 shares of the semiconductor company’s stock valued at $609,000 after acquiring an additional 85 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock valued at $7,181,458 in the last quarter. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADI shares. TD Cowen lifted their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, UBS Group boosted their target price on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Price Performance

ADI stock opened at $222.64 on Thursday. 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 firm has a market cap of $110.48 billion, a P/E ratio of 52.02, a PEG ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock’s 50 day moving average price is $224.04 and its 200 day moving average price is $215.73.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.65%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analog Devices Company 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.