Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,630 shares of the semiconductor company’s stock after selling 825 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Analog Devices were worth $52,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices during the 4th quarter valued at approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 3.5 %

Shares of ADI opened at $201.56 on Friday. The firm’s fifty day moving average is $216.51 and its two-hundred day moving average is $219.52. The stock has a market cap of $99.97 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company earned $1.73 EPS. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.