Confluence Wealth Services Inc. Has $1.09 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Confluence Wealth Services Inc. boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 487.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,427 shares of the semiconductor company's stock after purchasing an additional 4,503 shares during the period. Confluence Wealth Services Inc.'s holdings in Analog Devices were worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Broderick Brian C grew its holdings in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Analog Devices during the 4th quarter worth about $10,212,000. Sowell Financial Services LLC acquired a new stake in Analog Devices in the 1st quarter valued at about $296,000. Dynamic Advisor Solutions LLC increased its position in Analog Devices by 4.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after acquiring an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Analog Devices by 282.9% in the first quarter. Golden State Wealth Management LLC now owns 1,099 shares of the semiconductor company's stock worth $222,000 after acquiring an additional 812 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.1%

Analog Devices stock traded up $2.62 during midday trading on Tuesday, hitting $240.64. 3,500,630 shares of the stock were exchanged, compared to its average volume of 3,587,852. The stock has a market capitalization of $119.42 billion, a PE ratio of 65.57, a P/E/G ratio of 2.20 and a beta of 1.01. The company has a fifty day simple moving average of $216.57 and a two-hundred day simple moving average of $211.82. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the firm posted $1.40 earnings per share. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.65%. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director directly owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,250 shares of company stock valued at $3,143,556. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADI shares. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Williams Trading set a $260.00 price target on Analog Devices in a research note on Friday, May 23rd. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the company an "equal weight" rating in a report on Monday, June 16th. Finally, Citigroup boosted their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $251.75.

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.