Taikang Asset Management Hong Kong Co Ltd Acquires 3,200 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Taikang Asset Management Hong Kong Co Ltd raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 35.6% in the fourth quarter, Holdings Channel reports. The firm owned 12,200 shares of the semiconductor company’s stock after purchasing an additional 3,200 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Analog Devices were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ADI. Bank of Hawaii increased its holdings in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares during the last quarter. Midwest Professional Planners LTD. increased its stake in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC raised its holdings in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the period. West Oak Capital LLC lifted its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 3.9 %

ADI stock opened at $212.34 on Tuesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The stock has a market cap of $105.32 billion, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $217.16 and its 200 day moving average is $219.78.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $1.73 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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 $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Insider Activity

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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 approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

About Analog Devices

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.