Sumitomo Mitsui Trust Group Inc. Has $376.18 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,634,348 shares of the semiconductor company’s stock after selling 148,509 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Analog Devices were worth $376,178,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First National Trust Co increased its stake in Analog Devices by 1.7% during the 3rd quarter. First National Trust Co now owns 11,638 shares of the semiconductor company’s stock worth $2,679,000 after acquiring an additional 190 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Analog Devices by 6.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,368 shares of the semiconductor company’s stock valued at $2,847,000 after purchasing an additional 720 shares in the last quarter. Keystone Financial Services boosted its position in Analog Devices by 7.2% in the third quarter. Keystone Financial Services now owns 3,632 shares of the semiconductor company’s stock valued at $836,000 after buying an additional 244 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Analog Devices by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 17,353 shares of the semiconductor company’s stock worth $3,994,000 after buying an additional 1,994 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Analog Devices during the 3rd quarter valued at $952,000. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $220.47 on Tuesday. The stock’s 50 day moving average is $226.32 and its 200-day moving average is $224.99. Analog Devices, Inc. has a twelve month low of $170.10 and a twelve month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $109.46 billion, a price-to-earnings ratio of 66.21, a PEG ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company earned $2.49 earnings per share. The business’s revenue was down 24.8% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio is presently 110.51%.

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.