Citizens Financial Group Inc. RI Reduces Position in Analog Devices, Inc. (ADI)
Citizens Financial Group Inc. RI cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,274 shares of the semiconductor company’s stock after selling 1,841 shares during the period. Citizens Financial Group Inc. RI’s holdings in Analog Devices were worth $6,745,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ADI. Boston Family Office LLC lifted its stake in shares of Analog Devices by 37.9% in the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock valued at $567,000 after purchasing an additional 2,004 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $1,130,000. ZWJ Investment Counsel Inc. lifted its stake in shares of Analog Devices by 56.0% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 2,970 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Analog Devices by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock valued at $171,774,000 after purchasing an additional 94,804 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its stake in shares of Analog Devices by 34.2% in the 2nd quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock valued at $1,127,000 after purchasing an additional 3,690 shares during the last quarter. 87.08% of the stock is owned by institutional investors.
In other news, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the transaction, the director now directly owns 234,481 shares in the company, valued at approximately $19,579,163.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $83.52, for a total value of $376,257.60. Following the completion of the transaction, the senior vice president now owns 13,531 shares in the company, valued at $1,130,109.12. The disclosure for this sale can be found here. Insiders have sold a total of 112,256 shares of company stock worth $9,687,884 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the company. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Tuesday, November 21st. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Friday, November 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 price objective (up from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. B. Riley raised their price objective on Analog Devices from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Finally, Jefferies Group raised their price objective on Analog Devices to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $96.04.
Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at $84.79 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. Analog Devices, Inc. has a fifty-two week low of $70.15 and a fifty-two week high of $93.99. The firm has a market capitalization of $31,481.50, a P/E ratio of 18.25, a PEG ratio of 1.58 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. Analog Devices’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. research analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 annualized dividend and a yield of 2.12%. Analog Devices’s payout ratio is currently 86.96%.
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Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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