Nissay Asset Management Corp Japan ADV Sells 33,434 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nissay Asset Management Corp Japan ADV lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,233 shares of the semiconductor company's stock after selling 33,434 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Analog Devices were worth $41,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hopwood Financial Services Inc. bought a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC bought a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company's stock.

Analog Devices Stock Down 0.0%

ADI traded down $0.01 during trading hours on Friday, reaching $227.11. 3,617,772 shares of the stock traded hands, compared to its average volume of 3,513,185. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98. The firm's fifty day simple moving average is $196.58 and its two-hundred day simple moving average is $210.55.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. Analog Devices's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.74%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is 126.11%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Barclays cut their price target on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. UBS Group cut their price target on Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $249.95.

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.