Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,655,845 shares of the semiconductor company’s stock after buying an additional 21,497 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Analog Devices were worth $351,801,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after acquiring an additional 106,664 shares in the last quarter. Geode Capital Management LLC raised its stake in Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. FMR LLC boosted its position in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after buying an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of 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 buying an additional 700,862 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

NASDAQ ADI opened at $207.83 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a fifty day simple moving average of $215.65 and a 200 day simple moving average of $220.68. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market cap of $103.11 billion, a P/E ratio of 63.17, a P/E/G ratio of 2.43 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $2.01 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ADI shares. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Barclays lowered their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

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.