Asahi Life Asset Management CO. LTD. Buys Shares of 2,185 Analog Devices, Inc. (NASDAQ:ADI)

Asahi Life Asset Management CO. LTD. purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,185 shares of the semiconductor company's stock, valued at approximately $441,000.

A number of other hedge funds have also modified their holdings of ADI. Orion Capital Management LLC purchased a new position in Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the 4th quarter worth about $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices during the 1st quarter worth about $27,000. Cassady Schiller Wealth Management LLC boosted its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in Analog Devices in the first quarter valued at approximately $36,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.5%

ADI stock traded down $1.22 during trading on Monday, reaching $243.46. The stock had a trading volume of 2,044,862 shares, compared to its average volume of 4,017,035. The firm has a fifty day moving average price of $226.02 and a 200 day moving average price of $213.72. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $120.82 billion, a P/E ratio of 66.34, a PEG ratio of 2.26 and a beta of 1.02. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.63%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director owned 180,071 shares in the company, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $3,143,556 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. TD Cowen lifted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Evercore ISI lifted their target price on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Finally, KeyCorp lifted their price objective on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $257.67.

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.