Nan Shan Life Insurance Co. Ltd. Acquires 204,640 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nan Shan Life Insurance Co. Ltd. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 874.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 228,049 shares of the semiconductor company's stock after purchasing an additional 204,640 shares during the period. Analog Devices accounts for approximately 1.2% of Nan Shan Life Insurance Co. Ltd.'s portfolio, making the stock its 27th biggest holding. Nan Shan Life Insurance Co. Ltd.'s holdings in Analog Devices were worth $48,451,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC raised its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices in the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth $41,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

ADI stock traded down $1.09 during mid-day trading on Monday, hitting $226.02. 1,075,995 shares of the company were exchanged, compared to its average volume of 4,082,100. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The business has a 50 day simple moving average of $196.58 and a 200-day simple moving average of $210.33. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $112.10 billion, a PE ratio of 71.98, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The firm's quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ADI shares. JPMorgan Chase & Co. increased their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Cantor Fitzgerald lifted their price objective on shares of Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays lowered their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.95.

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.