Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Analog Devices by 26.7%, owning 322,049 shares worth approximately $64.95 million after selling 117,204 shares in the first quarter.
• Several hedge funds have recently increased their stakes in Analog Devices, with GAMMA Investing LLC raising its holdings by 25,460.1%, now owning over 2.2 million shares valued at $446 million.
• Analog Devices reported a 22.3% increase in revenue year-over-year, with earnings surpassing analysts' estimates, highlighting a positive outlook for the company alongside a recent quarterly dividend of $0.99.

Mitsubishi UFJ Trust & Banking Corp cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 26.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 322,049 shares of the semiconductor company's stock after selling 117,204 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Analog Devices worth $64,948,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Continuum Advisory LLC increased its position in Analog Devices by 14.8% during the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 57 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Analog Devices by 0.4% in the first quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock worth $2,929,000 after purchasing an additional 58 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Analog Devices by 1.1% in the first quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after purchasing an additional 60 shares during the last quarter. Keystone Financial Services grew its holdings in shares of Analog Devices by 1.6% in the first quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock worth $765,000 after purchasing an additional 61 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Analog Devices by 0.7% in the first quarter. Dakota Wealth Management now owns 8,955 shares of the semiconductor company's stock worth $1,806,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

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

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Evercore ISI increased their target price on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. KeyCorp increased their target price on shares of Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group began coverage on shares of Analog Devices in a research report on Thursday, July 10th. They set a "buy" rating and a $285.00 price target for the company. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Performance

ADI traded up $3.34 during trading on Thursday, reaching $224.03. 370,005 shares of the company's stock were exchanged, compared to its average volume of 3,943,210. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock has a market capitalization of $111.17 billion, a P/E ratio of 61.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. The company's fifty day simple moving average is $231.95 and its 200-day simple moving average is $215.74.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

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.