Confluence Wealth Services Inc. Has $503,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Confluence Wealth Services Inc. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 97.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,541 shares of the semiconductor company’s stock after purchasing an additional 1,256 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Analog Devices were worth $503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Invesco Ltd. increased its stake in shares of Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares during the period. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter worth about $1,225,227,000. Capital International Investors lifted its stake in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in Analog Devices by 9.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after acquiring an additional 327,542 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports 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 for the company. KeyCorp lifted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Down 1.6 %

Shares of NASDAQ ADI traded down $3.29 during mid-day trading on Tuesday, reaching $200.61. 2,668,447 shares of the company’s stock traded hands, compared to its average volume of 3,372,008. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The business has a 50-day simple moving average of $193.99 and a 200 day simple moving average of $187.86. The stock has a market cap of $99.48 billion, a P/E ratio of 35.89, a PEG ratio of 5.07 and a beta of 1.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20.

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

Analog Devices Increases Dividend

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

About Analog Devices

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.