Citizens Financial Group Inc RI Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Citizens Financial Group Inc RI reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 45.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,883 shares of the semiconductor company’s stock after selling 1,598 shares during the period. Citizens Financial Group Inc RI’s holdings in Analog Devices were worth $331,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Analog Devices by 130.1% in the third quarter. Invesco Ltd. now owns 7,773,386 shares of the semiconductor company’s stock valued at $1,301,887,000 after acquiring an additional 4,395,168 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Analog Devices by 73.5% in the 3rd quarter. Wellington Management Group LLP now owns 8,524,894 shares of the semiconductor company’s stock valued at $1,427,749,000 after buying an additional 3,612,571 shares during the period. Geode Capital Management LLC grew its position in shares of Analog Devices by 47.9% during the third quarter. Geode Capital Management LLC now owns 8,527,098 shares of the semiconductor company’s stock worth $1,423,976,000 after buying an additional 2,763,532 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Analog Devices by 49.9% during the third quarter. Bank of New York Mellon Corp now owns 4,866,350 shares of the semiconductor company’s stock worth $815,014,000 after buying an additional 1,620,336 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Analog Devices by 52.6% in the third quarter. Janus Henderson Group PLC now owns 3,488,905 shares of the semiconductor company’s stock valued at $584,315,000 after acquiring an additional 1,202,202 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Shares of ADI stock opened at $159.92 on Thursday. The stock’s 50-day moving average price is $159.08 and its 200 day moving average price is $166.79. The company has a quick ratio of 1.65, a current ratio of 2.09 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $83.69 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $143.81 and a 52-week high of $191.95.

Analog Devices (NASDAQ:ADIGet Rating) last released its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.29. Analog Devices had a return on equity of 12.35% and a net margin of 15.18%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue for the quarter was up 78.9% compared to the same quarter last year. Analysts expect that Analog Devices, Inc. will post 8.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.90%. Analog Devices’s dividend payout ratio (DPR) is 95.60%.

In other news, Director Tunc Doluca sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $159.76, for a total transaction of $750,872.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 14,000 shares of company stock worth $2,315,422. Company insiders own 0.91% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Analog Devices from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Thursday, February 17th. Morgan Stanley lifted their price target on Analog Devices from $194.00 to $196.00 and gave the stock an “equal weight” rating in a report on Thursday, February 17th. Oppenheimer reiterated an “outperform” rating and issued a $210.00 price objective on shares of Analog Devices in a report on Monday. Citigroup cut their target price on Analog Devices from $216.00 to $192.00 and set a “buy” rating on the stock in a research report on Thursday, February 17th. Finally, Truist Financial lowered their price target on Analog Devices from $208.00 to $194.00 and set a “buy” rating for the company in a report on Friday, April 8th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Buy” and an average price target of $199.10.

Analog Devices Profile (Get Rating)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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