FUKOKU MUTUAL LIFE INSURANCE Co Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

FUKOKU MUTUAL LIFE INSURANCE Co reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,925 shares of the semiconductor company’s stock after selling 460 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Analog Devices were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank increased its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp bought a new position in shares of Analog Devices during the 4th quarter worth approximately $460,000. Finally, Summit Global Investments acquired a new position in Analog Devices during the 3rd quarter valued at approximately $867,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group increased their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Finally, Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Down 0.7 %

ADI opened at $233.73 on Thursday. The business has a 50-day moving average of $216.87 and a 200-day moving average of $220.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a market capitalization of $115.92 billion, a PE ratio of 74.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

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

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.69%. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices Company 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.