Confluence Wealth Services Inc. Acquires 1,256 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Confluence Wealth Services Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 97.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,541 shares of the semiconductor company’s stock after acquiring an additional 1,256 shares during the period. Confluence Wealth Services Inc.’s holdings in Analog Devices were worth $503,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its stake in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares during the last quarter. USA Financial Formulas boosted its stake in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in Analog Devices during the 3rd quarter valued at about $29,000. Cetera Trust Company N.A bought a new stake in Analog Devices during the 4th quarter valued at about $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Analog Devices in the fourth quarter worth about $29,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

NASDAQ ADI traded down $3.29 on Tuesday, hitting $200.61. 2,668,447 shares of the company traded hands, compared to its average volume of 3,372,008. The business’s 50 day moving average price is $193.99 and its 200-day moving average price is $187.86. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. The company has a market capitalization of $99.48 billion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 5.07 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $2.75 EPS. The firm’s revenue was down 22.7% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.83%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADI shares. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley restated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is owned by corporate insiders.

Analog Devices 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.