Taikang Asset Management Hong Kong Co Ltd Acquires 10,861 Shares of Analog Devices, Inc. $ADI

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Analog Devices, Inc. by 89%, acquiring an additional 10,861 shares and raising their total holdings to 23,061 shares, valued at approximately $4.65 million.
• Analog Devices reported a quarterly earnings per share of $2.05, exceeding analysts' expectations and showing a 24.6% year-over-year revenue growth to $2.88 billion.
• The company declared a quarterly dividend of $0.99, with a scheduled payment date of September 16, 2023, representing an annualized yield of 1.6% and a payout ratio of 101.02%.

Taikang Asset Management Hong Kong Co Ltd increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 89.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,061 shares of the semiconductor company's stock after purchasing an additional 10,861 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Analog Devices were worth $4,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC bought a new stake in Analog Devices during the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management bought a new stake in Analog Devices during the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in Analog Devices during the 1st quarter worth approximately $33,000. Finally, North Capital Inc. bought a new stake in Analog Devices during the 1st quarter worth approximately $36,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Katsufumi Nakamura sold 2,490 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $248.03, for a total transaction of $617,594.70. Following the completion of the sale, the senior vice president owned 13,549 shares in the company, valued at approximately $3,360,558.47. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,615 shares of company stock worth $6,450,988 over the last quarter. Insiders own 0.33% of the company's stock.

Analog Devices Stock Down 1.2%

NASDAQ ADI traded down $2.94 on Friday, hitting $251.31. 3,597,650 shares of the company were exchanged, compared to its average volume of 3,976,426. The company has a market cap of $123.63 billion, a PE ratio of 64.11, a PEG ratio of 2.17 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $258.13. The stock has a fifty day moving average of $236.83 and a 200-day moving average of $218.67. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.76 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. Analog Devices's revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 earnings per share. Analog Devices has set its Q4 2025 guidance at 2.120-2.320 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.99 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.96 annualized dividend and a dividend yield of 1.6%. Analog Devices's dividend payout ratio is currently 101.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADI shares. Williams Trading set a $260.00 target price on shares of Analog Devices in a report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Truist Financial boosted their target price on shares of Analog Devices from $219.00 to $249.00 and gave the stock a "hold" rating in a report on Thursday, August 21st. Morgan Stanley boosted their target price on shares of Analog Devices from $273.00 to $288.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, Benchmark boosted their target price on shares of Analog Devices from $260.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $273.53.

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.