Asset Management One Co. Ltd. Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Asset Management One Co. Ltd. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 196,504 shares of the semiconductor company’s stock after purchasing an additional 3,164 shares during the period. Asset Management One Co. Ltd.’s holdings in Analog Devices were worth $45,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norden Group LLC increased its stake in Analog Devices by 15.6% during the first quarter. Norden Group LLC now owns 1,915 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 258 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Analog Devices by 6.5% during the first quarter. J.W. Cole Advisors Inc. now owns 1,086 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 66 shares during the last quarter. Haverford Trust Co boosted its position in shares of Analog Devices by 4.7% during the first quarter. Haverford Trust Co now owns 2,442 shares of the semiconductor company’s stock worth $483,000 after buying an additional 110 shares during the period. Financial Counselors Inc. boosted its position in shares of Analog Devices by 8.2% during the first quarter. Financial Counselors Inc. now owns 3,773 shares of the semiconductor company’s stock worth $746,000 after buying an additional 287 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Analog Devices by 5.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,208 shares of the semiconductor company’s stock worth $635,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI traded down $0.61 on Monday, hitting $224.87. 91,958 shares of the company’s stock were exchanged, compared to its average volume of 3,202,275. The firm has a market cap of $111.65 billion, a price-to-earnings ratio of 67.71, a P/E/G ratio of 3.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm’s 50-day moving average price is $227.19 and its two-hundred day moving average price is $223.57. Analog Devices, Inc. has a fifty-two week low of $165.59 and a fifty-two week high of $244.14.

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

Analog Devices Dividend Announcement

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

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,495 shares of company stock worth $18,513,858. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ADI. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.