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

AIA Group Ltd grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 85.2% in the 4th quarter, according to its most recent disclosure 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Markel Corp raised its stake in Analog Devices by 1.4% in the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after buying an additional 15,150 shares in the last quarter. Fairfield Bush & CO. bought a new position in Analog Devices in the first quarter worth approximately $82,000. United Bank raised its stake in Analog Devices by 24.7% in the first quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Analog Devices by 34.7% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock worth $264,000 after buying an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Analog Devices by 14.5% in the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after buying an additional 14,718 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 over the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Evercore ISI initiated coverage on shares of Analog Devices in a report on Tuesday. They issued an “outperform” rating and a $254.00 price target on the stock. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Finally, Truist Financial cut their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Stock Performance

NASDAQ ADI traded down $1.46 on Thursday, reaching $187.97. 1,291,567 shares of the company’s stock traded hands, compared to its average volume of 3,314,514. The firm has a market cap of $93.22 billion, a price-to-earnings ratio of 33.89, a P/E/G ratio of 4.80 and a beta of 1.17. The stock has a 50 day moving average price of $193.18 and a 200-day moving average price of $186.46. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during 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 firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. Analog Devices’s payout ratio 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.