Nomura Asset Management Co. Ltd. Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Nomura Asset Management Co. Ltd. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 247,455 shares of the semiconductor company's stock after acquiring an additional 12,674 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Analog Devices were worth $56,957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its holdings in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock valued at $259,000 after purchasing an additional 43 shares in the last quarter. Grove Bank & Trust raised its position in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after buying an additional 43 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after buying an additional 48 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after acquiring an additional 48 shares during the last quarter. Finally, Bank of Hawaii grew its stake in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after acquiring an additional 48 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADI has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. TD Cowen cut 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. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Morgan Stanley cut their price objective on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $22,596,300 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Down 1.6 %

Shares of NASDAQ ADI traded down $3.43 during midday trading on Tuesday, hitting $215.61. The company's stock had a trading volume of 2,678,976 shares, compared to its average volume of 3,222,886. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $107.01 billion, a price-to-earnings ratio of 65.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The business's fifty day simple moving average is $222.95 and its two-hundred day simple moving average is $225.88. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter last year, the company posted $2.01 EPS. The firm's revenue was down 10.1% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices's payout ratio is 111.85%.

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.