Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,253 shares of the semiconductor company’s stock after selling 29,761 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Analog Devices worth $93,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Hawaii grew its stake in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares during the period. Midwest Professional Planners LTD. boosted its position in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 54 shares in the last quarter. West Oak Capital LLC raised its position in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after purchasing an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock worth $5,082,860 in the last quarter. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Up 3.9 %

Shares of Analog Devices stock opened at $212.34 on Tuesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business’s fifty day moving average price is $217.16 and its two-hundred day moving average price is $219.78. The company has a market capitalization of $105.32 billion, a P/E ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.86%. Analog Devices’s payout ratio is 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Finally, TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

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.