CenterBook Partners LP Purchases New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• CenterBook Partners LP acquired 7,703 shares of Analog Devices, valued at approximately $1.55 million, during the first quarter.
• Analog Devices reported $1.85 EPS for the quarter, exceeding analysts' expectations, with revenues reaching $2.64 billion, a 22.3% increase from the previous year.
• The company announced a quarterly dividend of $0.99 per share, translating to an annual yield of 1.8%, with a high dividend payout ratio of 107.90%.

CenterBook Partners LP acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,703 shares of the semiconductor company's stock, valued at approximately $1,553,000.

Several other large investors have also recently modified their holdings of ADI. Orion Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices during the 4th quarter valued at about $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices during the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new stake in Analog Devices during the 1st quarter valued at about $33,000. Finally, North Capital Inc. purchased a new stake in Analog Devices during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the transaction, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Up 0.4%

Shares of NASDAQ ADI traded up $0.83 on Friday, reaching $223.95. 3,078,240 shares of the company's stock traded hands, compared to its average volume of 3,379,463. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The business's 50 day simple moving average is $232.32 and its two-hundred day simple moving average is $215.78. The company has a market cap of $111.14 billion, a price-to-earnings ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. 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 (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating 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 firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. Analog Devices's payout ratio is 107.90%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ADI shares. Barclays increased their target price on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Raymond James Financial upgraded shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Company 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.