Mitsubishi UFJ Asset Management Co. Ltd. Purchases 99,572 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Analog Devices, Inc. by 12.0%, owning 930,104 shares valued at approximately $187.6 million following the purchase of 99,572 shares.
• The company reported earnings per share (EPS) of $1.85, exceeding estimates, and a revenue of $2.64 billion for the quarter, reflecting a 22.3% year-over-year growth.
• Analog Devices announced a quarterly dividend of $0.99, indicating an annualized yield of 1.8%, while the company's dividend payout ratio stands at 107.90%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 930,104 shares of the semiconductor company's stock after purchasing an additional 99,572 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Analog Devices worth $187,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CenterBook Partners LP acquired a new position in shares of Analog Devices in the 1st quarter valued at approximately $1,553,000. Waycross Partners LLC increased its stake in Analog Devices by 24.7% in the first quarter. Waycross Partners LLC now owns 121,302 shares of the semiconductor company's stock valued at $24,463,000 after acquiring an additional 24,041 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Analog Devices by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,874,080 shares of the semiconductor company's stock valued at $579,616,000 after purchasing an additional 71,615 shares in the last quarter. Coign Capital Advisors LLC bought a new stake in Analog Devices during the first quarter worth $459,000. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Analog Devices in the 1st quarter valued at $8,414,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $223.12 on Friday. The company's 50 day moving average is $232.10 and its 200-day moving average is $215.76. The firm has a market cap of $110.72 billion, a P/E ratio of 60.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. UBS Group lowered their target price on Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a research note on Monday, July 7th. KGI Securities started coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating for the company. The Goldman Sachs Group assumed coverage on shares of Analog Devices in a report on Thursday, July 10th. They set a "buy" rating and a $285.00 price target on the stock. Finally, TD Cowen upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Company 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.

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