Mirae Asset Global Investments Co. Ltd. Has $88.43 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 4.0% in the fourth quarter, Holdings Channel reports. The firm owned 412,072 shares of the semiconductor company’s stock after selling 17,333 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Analog Devices were worth $88,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADI. Raymond James & Associates raised its position 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 valued at $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. increased its stake in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC raised its position in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Up 0.4 %

Shares of ADI stock opened at $206.01 on Wednesday. The company has a market cap of $102.20 billion, a P/E ratio of 62.62, a PEG ratio of 2.43 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock has a 50 day simple moving average of $216.06 and a two-hundred day simple moving average of $220.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. Research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADI shares. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial raised their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

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.