Mirae Asset Global Investments Co. Ltd. Buys 5,038 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 417,110 shares of the semiconductor company's stock after purchasing an additional 5,038 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Analog Devices worth $83,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after buying an additional 413,084 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Analog Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after acquiring an additional 247,737 shares in the last quarter. Norges Bank purchased a new stake in shares of Analog Devices in the 4th quarter valued at about $1,755,958,000. FMR LLC boosted its position in shares of Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after acquiring an additional 61,390 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after purchasing an additional 427,328 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Evercore ISI raised their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $250.00 to $270.00 in a research report on Wednesday, June 18th. Barclays increased their target price on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Trading Up 1.2%

ADI stock traded up $2.91 on Tuesday, reaching $240.93. The company's stock had a trading volume of 2,174,044 shares, compared to its average volume of 3,582,710. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The business has a fifty day simple moving average of $216.57 and a two-hundred day simple moving average of $211.82. The firm has a market cap of $119.56 billion, a PE ratio of 65.65, a PEG ratio of 2.19 and a beta of 1.00. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $1.40 EPS. The company's quarterly revenue was up 22.3% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is currently owned by company insiders.

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.