Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,863 shares of the semiconductor company’s stock after acquiring an additional 251 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Analog Devices were worth $2,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the last quarter. Invesco Ltd. grew its stake in Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares in the last quarter. Baillie Gifford & Co. raised its stake in Analog Devices by 11.7% in the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock worth $753,379,000 after acquiring an additional 397,753 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Analog Devices by 7.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after purchasing an additional 225,048 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Analog Devices by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,532,127 shares of the semiconductor company’s stock valued at $443,350,000 after buying an additional 69,181 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI traded up $1.40 during midday trading on Thursday, reaching $197.90. The stock had a trading volume of 1,207,073 shares, compared to its average volume of 3,369,825. The firm has a 50 day simple moving average of $192.97 and a 200-day simple moving average of $187.00. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market cap of $98.14 billion, a PE ratio of 34.96, a P/E/G ratio of 4.76 and a beta of 1.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This is a boost 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 dividend on an annualized basis and a yield of 1.86%. Analog Devices’s payout ratio is presently 65.83%.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research report on Thursday, January 18th. Evercore ISI initiated coverage on Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target for the company. KeyCorp raised their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Truist Financial decreased their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the 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 completion of 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. Insiders sold 24,707 shares of company stock valued at $4,825,113 in the last quarter. 0.31% of the stock is currently owned by 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.