APG Asset Management US Inc. Takes $19.71 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

APG Asset Management US Inc. acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 99,253 shares of the semiconductor company’s stock, valued at approximately $19,708,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after acquiring an additional 21,522 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in Analog Devices in the 4th quarter valued at about $1,152,000. Sequoia Financial Advisors LLC lifted its position in Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after buying an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after acquiring an additional 2,215 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 1.5 %

NASDAQ ADI traded down $3.44 during trading hours on Monday, hitting $231.05. 518,787 shares of the company’s stock were exchanged, compared to its average volume of 3,368,326. The firm has a market capitalization of $114.65 billion, a P/E ratio of 54.27, a price-to-earnings-growth ratio of 3.97 and a beta of 1.12. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The business’s 50 day moving average is $204.54 and its 200-day moving average is $195.88.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.83 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 6.22 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.59%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein lifted their price target on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Cantor Fitzgerald increased their price target on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. KeyCorp upped their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Bank of America boosted their target price on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

Check Out Our Latest Analysis on Analog Devices

Insiders Place Their Bets

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James Champy sold 4,200 shares of Analog Devices stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at $1,487,947.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold a total of 33,737 shares of company stock worth $6,998,205 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Analog Devices Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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