Analog Devices, Inc. (NASDAQ:ADI) Holdings Reduced by Central Securities Corp

Central Securities Corp reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 390,000 shares of the semiconductor company’s stock after selling 10,000 shares during the period. Analog Devices accounts for approximately 7.5% of Central Securities Corp’s investment portfolio, making the stock its 2nd largest position. Central Securities Corp’s holdings in Analog Devices were worth $78,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC purchased a new position in Analog Devices in the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in Analog Devices in the first quarter worth approximately $27,000. North Capital Inc. acquired a new stake in Analog Devices during the first quarter worth $36,000. Finally, Wolff Wiese Magana LLC raised its position in Analog Devices by 209.8% in the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 128 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $3,327,994 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $227.82 on Friday. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73. The company has a market cap of $113.06 billion, a price-to-earnings ratio of 62.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock’s 50-day moving average is $230.63 and its two-hundred day moving average is $215.26.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.74%. Analog Devices’s payout ratio is currently 107.90%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADI shares. Cantor Fitzgerald upgraded Analog Devices from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Seaport Res Ptn raised shares of Analog Devices from a “strong sell” rating to a “hold” rating in a research report on Monday, July 21st. KeyCorp lifted their price target on shares of Analog Devices from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Raymond James Financial raised shares of Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, June 18th. Finally, Noble Financial raised shares of Analog Devices to an “outperform” rating in a research report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

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.