Centaurus Financial Inc. Sells 67 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Centaurus Financial Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,806 shares of the semiconductor company’s stock after selling 67 shares during the period. Centaurus Financial Inc.’s holdings in Analog Devices were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. American Century Companies Inc. raised its holdings in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares during the period. Legal & General Group Plc lifted its position in Analog Devices by 5.3% in the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Analog Devices by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock worth $720,933,000 after buying an additional 171,893 shares during the period. Finally, Swedbank AB increased its position in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 2.0 %

Shares of NASDAQ ADI opened at $219.05 on Wednesday. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The stock’s fifty day simple moving average is $224.75 and its two-hundred day simple moving average is $225.92. The stock has a market capitalization of $108.76 billion, a PE ratio of 65.78, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock worth $25,116,338 in the last three months. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the subject of several analyst reports. Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

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.