Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,636 shares of the semiconductor company’s stock after purchasing an additional 3,860 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Analog Devices were worth $10,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. New Millennium Group LLC purchased a new stake in Analog Devices during the second quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices during the first quarter valued at approximately $30,000. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Analog Devices in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $225.35 on Wednesday. The stock has a market capitalization of $111.82 billion, a P/E ratio of 52.65, a P/E/G ratio of 3.74 and a beta of 1.07. The business has a 50-day moving average of $224.35 and a two-hundred day moving average of $215.68. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. The Goldman Sachs Group increased their price objective on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.45.

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.