Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,634,348 shares of the semiconductor company's stock after selling 148,509 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.33% of Analog Devices worth $376,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Swedbank AB bought a new position in shares of Analog Devices in the 1st quarter worth approximately $537,171,000. Vanguard Group Inc. lifted its stake in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock worth $346,834,000 after purchasing an additional 1,753,536 shares during the period. Raymond James & Associates lifted its stake in shares of Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Analog Devices stock traded down $2.59 during mid-day trading on Tuesday, hitting $217.88. The company had a trading volume of 1,108,666 shares, compared to its average volume of 3,202,141. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $170.10 and a 12-month high of $244.14. The company's fifty day moving average is $226.32 and its 200-day moving average is $224.99. The company has a market capitalization of $108.18 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm posted $2.49 EPS. The business's quarterly revenue was down 24.8% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices's dividend payout ratio (DPR) is 110.51%.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at $13,229,149.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock worth $25,229,958 in the last quarter. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and reduced their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $249.80.

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.