Sumitomo Mitsui Trust Group Inc. Acquires 7,752 Shares of Analog Devices, Inc. $ADI

Sumitomo Mitsui Trust Group Inc. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,725,144 shares of the semiconductor company’s stock after purchasing an additional 7,752 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.35% of Analog Devices worth $423,868,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADI. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after buying an additional 761,861 shares in the last quarter. State Street Corp increased its stake in Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Geode Capital Management LLC increased its stake in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after acquiring an additional 633,425 shares during the last quarter. Norges Bank purchased a new stake in Analog Devices during the second quarter valued at about $1,803,377,000. Finally, Ameriprise Financial Inc. lifted its stake in Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock worth $1,506,448,000 after purchasing an additional 375,207 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 0.6%

ADI opened at $300.93 on Monday. The firm has a market capitalization of $147.35 billion, a price-to-earnings ratio of 65.99, a PEG ratio of 1.66 and a beta of 1.03. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $303.20. The business has a 50 day simple moving average of $262.65 and a two-hundred day simple moving average of $248.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 5,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the sale, the senior vice president owned 59,664 shares of the company’s stock, valued at approximately $16,180,280.16. The trade was a 7.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the completion of the transaction, the chief executive officer directly owned 155,688 shares in the company, valued at approximately $42,825,098.16. The trade was a 6.04% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,919 shares of company stock worth $10,464,462. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ADI. The Goldman Sachs Group reiterated a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. BNP Paribas initiated coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Truist Financial increased their target price on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Analog Devices in a research report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $287.22.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.