Sumitomo Mitsui Trust Group Inc. Has $336.87 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Sumitomo Mitsui Trust Group Inc. grew its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,670,391 shares of the semiconductor company's stock after purchasing an additional 14,546 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.34% of Analog Devices worth $336,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Orion Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth about $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the fourth quarter worth about $27,000. Alpine Bank Wealth Management acquired a new stake in Analog Devices in the first quarter worth about $27,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADI. Piper Sandler reduced their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Oppenheimer upped their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Williams Trading set a $260.00 price target on shares of Analog Devices in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Stock Down 0.1%

Analog Devices stock traded down $0.34 during trading hours on Friday, hitting $236.96. The company had a trading volume of 3,617,735 shares, compared to its average volume of 3,584,382. 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 2.08 and a quick ratio of 1.51. The firm has a market capitalization of $117.59 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The firm's fifty day moving average is $215.31 and its 200-day moving average is $211.72.

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 for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued 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 yield of 1.67%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices 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 transaction, the director now owns 180,071 shares of the company's stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is currently owned by corporate 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.