Concentric Capital Strategies LP Sells 9,929 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Concentric Capital Strategies LP decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,423 shares of the semiconductor company's stock after selling 9,929 shares during the quarter. Concentric Capital Strategies LP's holdings in Analog Devices were worth $10,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new stake in Analog Devices in the 4th quarter worth about $30,000. Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on ADI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $250.43.

Analog Devices Trading Up 2.3 %

Shares of ADI traded up $4.73 during trading hours on Friday, hitting $207.51. The company had a trading volume of 3,537,537 shares, compared to its average volume of 3,481,961. The firm has a market cap of $102.92 billion, a P/E ratio of 66.09, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock's 50 day moving average price is $196.04 and its 200 day moving average price is $210.70. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 earnings per share. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.91%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is 126.11%.

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.