Asset Management One Co. Ltd. Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Asset Management One Co. Ltd. boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,504 shares of the semiconductor company’s stock after buying an additional 3,164 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Analog Devices were worth $45,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter valued at approximately $29,000. ORG Partners LLC lifted its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC lifted its stake in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the second quarter worth $37,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Analog Devices in the first quarter worth $40,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Trading Down 0.3 %

Shares of NASDAQ ADI traded down $0.61 during trading hours on Monday, hitting $224.87. 91,958 shares of the company traded hands, compared to its average volume of 3,202,275. The stock has a market capitalization of $111.65 billion, a price-to-earnings ratio of 67.71, a price-to-earnings-growth ratio of 3.70 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. The company’s 50 day moving average price is $227.19 and its 200 day moving average price is $223.57. Analog Devices, Inc. has a 12 month low of $165.59 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business earned $2.49 EPS. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 110.51%.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,495 shares of company stock worth $18,513,858 in the last three months. 0.31% of the stock is owned by insiders.

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.