Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,655,845 shares of the semiconductor company’s stock after purchasing an additional 21,497 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.33% of Analog Devices worth $351,801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Analog Devices in the 3rd quarter valued at approximately $48,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $207.83 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $215.65 and its two-hundred day moving average is $220.68. The firm has a market capitalization of $103.11 billion, a P/E ratio of 63.17, a PEG ratio of 2.43 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADI. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Truist Financial boosted their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

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.