Mitsubishi UFJ Asset Management Co. Ltd. Has $178.87 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 830,532 shares of the semiconductor company’s stock after acquiring an additional 64,252 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Analog Devices were worth $178,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADI. Curbstone Financial Management Corp bought a new stake in Analog Devices in the fourth quarter worth approximately $460,000. Czech National Bank boosted its holdings in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Synergy Asset Management LLC increased its position in Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after buying an additional 2,554 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Analog Devices during the third quarter valued at about $20,194,000. Finally, RFG Advisory LLC lifted its position in shares of Analog Devices by 3.9% in the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after buying an additional 77 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $208.94 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business’s fifty day moving average price is $216.86 and its two-hundred day moving average price is $219.64. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market capitalization of $103.63 billion, a price-to-earnings ratio of 66.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

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

Analog Devices announced that its Board of Directors has approved a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. 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 yield of 1.90%. Analog Devices’s payout ratio is presently 126.11%.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” 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 note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report 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 stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.