Centric Wealth Management Has $3.25 Million Position in Analog Devices, Inc. $ADI

Centric Wealth Management lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,501 shares of the semiconductor company’s stock after purchasing an additional 303 shares during the period. Centric Wealth Management’s holdings in Analog Devices were worth $3,248,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after buying an additional 43 shares during the last quarter. Bennett Associates Wealth Management lifted its position in shares of Analog Devices by 2.9% in the second quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 46 shares during the last quarter. Solstein Capital LLC boosted its stake in shares of Analog Devices by 2.0% during the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after acquiring an additional 46 shares during the period. Keystone Financial Services increased its holdings in shares of Analog Devices by 1.2% during the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after acquiring an additional 46 shares during the last quarter. Finally, EFG Asset Management North America Corp. raised its stake in Analog Devices by 0.3% in the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after acquiring an additional 47 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Martin Cotter sold 12,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $246.25, for a total value of $3,078,125.00. Following the transaction, the senior vice president owned 63,048 shares of the company’s stock, valued at $15,525,570. This trade represents a 16.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 59,750 shares of company stock valued at $14,684,296. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Barclays upped their price target on shares of Analog Devices from $185.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, August 21st. BNP Paribas started coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective for the company. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus set a $280.00 target price on Analog Devices in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $278.42.

Analog Devices Price Performance

Analog Devices stock opened at $232.32 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $258.13. The stock has a market capitalization of $114.29 billion, a P/E ratio of 59.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The stock has a fifty day moving average of $238.78 and a 200-day moving average of $234.80.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.10. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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.