Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Analog Devices, Inc. $ADI

Mirae Asset Global Investments Co. Ltd. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,956 shares of the semiconductor company’s stock after selling 25,646 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Analog Devices worth $103,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADI. Norges Bank acquired a new position in Analog Devices during the second quarter worth $1,803,377,000. Marshall Wace LLP grew its position in shares of Analog Devices by 948.2% in the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after purchasing an additional 982,385 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Analog Devices by 47.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock worth $653,599,000 after purchasing an additional 882,909 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after buying an additional 752,411 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Truist Financial boosted their price objective on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Cfra reiterated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a research report on Tuesday, November 25th. BNP Paribas Exane began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Susquehanna raised their price objective on Analog Devices from $350.00 to $360.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the completion of the sale, the chief executive officer owned 155,688 shares in the company, valued at $42,825,098.16. This trade represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $278.44, for a total value of $2,784,400.00. Following the completion of the transaction, the senior vice president owned 49,664 shares in the company, valued at $13,828,444.16. This represents a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,544 shares of company stock worth $14,328,561. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $317.63 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The stock’s fifty day moving average is $280.63 and its two-hundred day moving average is $253.44. The firm has a market capitalization of $155.20 billion, a P/E ratio of 69.66, a price-to-earnings-growth ratio of 1.64 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $318.17.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the company earned $1.67 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.