Citizens Financial Group Inc. RI Has $743,000 Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Citizens Financial Group Inc. RI boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 34.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,498 shares of the semiconductor company’s stock after acquiring an additional 889 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Analog Devices were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB boosted its holdings in Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the period. Impax Asset Management Group plc boosted its holdings in Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after purchasing an additional 110,448 shares during the period. United Bank boosted its holdings in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after purchasing an additional 273 shares during the period. Sigma Planning Corp boosted its holdings in Analog Devices by 32.5% in the 3rd quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company’s stock valued at $718,000 after purchasing an additional 765 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in Analog Devices by 36.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 3,545 shares of the semiconductor company’s stock valued at $816,000 after purchasing an additional 943 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 1.2 %

ADI opened at $206.62 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $102.48 billion, a PE ratio of 65.80, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a 50-day moving average price of $218.37 and a two-hundred day moving average price of $220.89.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.