Dai ichi Life Insurance Company Ltd Buys 1,124 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Dai ichi Life Insurance Company Ltd lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,884 shares of the semiconductor company’s stock after buying an additional 1,124 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Analog Devices were worth $5,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at $30,000. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ADI shares. Robert W. Baird increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays lifted their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Trading Up 1.8 %

Shares of ADI stock opened at $225.42 on Friday. The stock has a market cap of $111.86 billion, a P/E ratio of 52.67, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. 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 stock has a 50 day simple moving average of $224.69 and a 200 day simple moving average of $215.06. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share 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 firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $2.49 EPS. The company’s revenue was down 24.8% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.