Analog Devices, Inc. (NASDAQ:ADI) is Central Securities Corp's 2nd Largest Position

Key Points

• Central Securities Corp reduced its stake in Analog Devices, Inc. by 2.5%, holding 390,000 shares worth approximately $78.65 million, making it the second largest position in their portfolio.
• Multiple analysts have increased their price targets for Analog Devices, with KeyCorp raising it to $300.00 and maintaining an "overweight" rating, reflecting positive sentiment toward the stock.
• Analog Devices recently declared a quarterly dividend of $0.99, with a payout ratio of 107.90%, indicating a commitment to returning value to shareholders.

Central Securities Corp reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 390,000 shares of the semiconductor company's stock after selling 10,000 shares during the quarter. Analog Devices makes up 7.5% of Central Securities Corp's investment portfolio, making the stock its 2nd largest holding. Central Securities Corp owned 0.08% of Analog Devices worth $78,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Mediolanum International Funds Ltd increased its holdings in Analog Devices by 905.9% in the 1st quarter. Mediolanum International Funds Ltd now owns 107,449 shares of the semiconductor company's stock worth $21,657,000 after acquiring an additional 96,767 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Analog Devices by 13.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 139,464 shares of the semiconductor company's stock worth $28,126,000 after acquiring an additional 16,514 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Analog Devices during the 1st quarter valued at about $287,000. Caliber Wealth Management LLC KS purchased a new position in shares of Analog Devices during the first quarter worth about $2,555,000. Finally, Pacer Advisors Inc. increased its position in shares of Analog Devices by 9.8% in the first quarter. Pacer Advisors Inc. now owns 86,399 shares of the semiconductor company's stock worth $17,424,000 after purchasing an additional 7,690 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $1.06 during trading on Wednesday, hitting $231.81. The company's stock had a trading volume of 592,627 shares, compared to its average volume of 3,970,854. The company has a 50-day moving average of $230.88 and a 200-day moving average of $215.42. The firm has a market cap of $115.03 billion, a price-to-earnings ratio of 63.12, a P/E/G ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock valued at $3,327,994. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADI. Keefe, Bruyette & Woods raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Seaport Res Ptn raised shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. Citigroup restated a "buy" rating and set a $290.00 price target (up from $260.00) on shares of Analog Devices in a research report on Monday, July 7th. Finally, Evercore ISI raised their price target on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

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.