Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,630 shares of the semiconductor company’s stock after selling 825 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Analog Devices were worth $52,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AKO Capital LLP increased its stake in Analog Devices by 3.8% during the 4th quarter. AKO Capital LLP now owns 1,167,224 shares of the semiconductor company’s stock worth $247,988,000 after buying an additional 42,938 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at $1,755,958,000. Blair William & Co. IL boosted its holdings in Analog Devices by 2.6% in the fourth quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company’s stock valued at $8,957,000 after purchasing an additional 1,064 shares during the period. Howe & Rusling Inc. acquired a new position in Analog Devices during the 4th quarter worth $225,000. Finally, NEOS Investment Management LLC increased its holdings in Analog Devices by 25.6% during the 4th quarter. NEOS Investment Management LLC now owns 66,332 shares of the semiconductor company’s stock worth $14,093,000 after purchasing an additional 13,528 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADI. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, UBS Group raised their price target on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $201.56 on Friday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market capitalization of $99.97 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07. The company has a 50-day simple moving average of $216.51 and a 200-day simple moving average of $219.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its board has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.