Elo Mutual Pension Insurance Co Has $9.63 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Elo Mutual Pension Insurance Co lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,309 shares of the semiconductor company’s stock after selling 1,852 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Analog Devices were worth $9,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ADI. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Analog Devices by 8.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 830,532 shares of the semiconductor company’s stock worth $178,872,000 after acquiring an additional 64,252 shares during the period. Borer Denton & Associates Inc. raised its stake in Analog Devices by 2.8% in the fourth quarter. Borer Denton & Associates Inc. now owns 12,145 shares of the semiconductor company’s stock valued at $2,580,000 after purchasing an additional 334 shares in the last quarter. UNIVEST FINANCIAL Corp lifted its position in Analog Devices by 2.1% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 7,487 shares of the semiconductor company’s stock worth $1,591,000 after purchasing an additional 155 shares during the period. Ipsen Advisor Group LLC acquired a new stake in Analog Devices during the fourth quarter worth about $455,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Analog Devices by 3.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 46,104 shares of the semiconductor company’s stock valued at $9,795,000 after buying an additional 1,582 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. TD Cowen lowered 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. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock valued at $7,746,500 over the last ninety days. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Down 1.4 %

Shares of NASDAQ ADI opened at $210.53 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $104.42 billion, a PE ratio of 67.05, a P/E/G ratio of 2.85 and a beta of 1.07. The company’s fifty day simple moving average is $216.98 and its 200 day simple moving average is $219.72. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.