AIA Group Ltd Acquires 10,299 Shares of Analog Devices, Inc. (NASDAQ:ADI)

AIA Group Ltd boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 85.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,384 shares of the semiconductor company’s stock after acquiring an additional 10,299 shares during the period. AIA Group Ltd’s holdings in Analog Devices were worth $4,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. boosted its holdings in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices in the third quarter worth approximately $29,000. Fortis Capital Advisors LLC bought a new position in Analog Devices in the first quarter worth approximately $31,000. Quarry LP boosted its holdings in Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 123 shares in the last quarter. Finally, Worth Asset Management LLC bought a new position in Analog Devices in the first quarter worth approximately $33,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. KeyCorp increased their price objective on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein downgraded Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research note on Thursday, January 4th. Barclays increased their price target on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $1.46 during trading hours on Thursday, reaching $187.97. The company had a trading volume of 1,291,567 shares, compared to its average volume of 3,314,514. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The business has a fifty day simple moving average of $193.18 and a 200 day simple moving average of $186.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market cap of $93.22 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 4.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the company earned $2.75 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Analog Devices Profile

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.