Citizens Financial Group Inc. RI Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Citizens Financial Group Inc. RI lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 31.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,583 shares of the semiconductor company’s stock after buying an additional 1,085 shares during the period. Citizens Financial Group Inc. RI’s holdings in Analog Devices were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth $27,000. Menard Financial Group LLC bought a new position in Analog Devices in the 4th quarter worth $27,000. Alpine Bank Wealth Management bought a new position in Analog Devices in the 1st quarter worth $27,000. N.E.W. Advisory Services LLC bought a new position in Analog Devices in the 1st quarter worth $33,000. Finally, North Capital Inc. bought a new position in Analog Devices in the 1st quarter worth $36,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 1.1%

Shares of Analog Devices stock opened at $223.12 on Friday. The firm has a market cap of $110.72 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 2.03 and a beta of 1.05. The business has a 50-day moving average price of $232.10 and a 200-day moving average price of $215.76. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.40 earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s payout ratio is presently 107.90%.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director directly owned 167,571 shares of the company’s stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. Cfra Research cut Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Cantor Fitzgerald raised Analog Devices from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They issued a “buy” rating on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.