Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,431 shares of the semiconductor company’s stock after buying an additional 2,730 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Analog Devices were worth $12,172,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Peddock Capital Advisors LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $186,000. Ferguson Wellman Capital Management Inc. lifted its stake in Analog Devices by 1.0% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 491,154 shares of the semiconductor company’s stock worth $58,369,000 after purchasing an additional 5,001 shares during the last quarter. Executive Wealth Management LLC bought a new position in Analog Devices during the fourth quarter worth $1,143,000. Ironvine Capital Partners LLC lifted its stake in Analog Devices by 1.3% during the fourth quarter. Ironvine Capital Partners LLC now owns 164,041 shares of the semiconductor company’s stock worth $19,495,000 after purchasing an additional 2,052 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Analog Devices during the fourth quarter worth $655,000. Institutional investors own 87.01% of the company’s stock.

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $108.96, for a total transaction of $1,089,600.00. Following the completion of the transaction, the chief executive officer now owns 31,206 shares of the company’s stock, valued at $3,400,205.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenton J. Sicchitano sold 11,860 shares of the firm’s stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $120.96, for a total value of $1,434,585.60. Following the transaction, the director now directly owns 34,255 shares of the company’s stock, valued at approximately $4,143,484.80. The disclosure for this sale can be found here. Insiders have sold 104,320 shares of company stock worth $12,275,687 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Several brokerages recently issued reports on ADI. Raymond James upgraded Analog Devices to an “outperform” rating and raised their price objective for the stock from $120.00 to $130.00 in a research note on Wednesday, November 27th. Barclays restated a “buy” rating and set a $135.00 price objective on shares of Analog Devices in a research note on Sunday, January 19th. BMO Capital Markets raised their price objective on Analog Devices to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group raised their price objective on Analog Devices from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $120.89.

NASDAQ ADI traded down $3.76 during trading hours on Friday, hitting $117.10. The company had a trading volume of 83,943 shares, compared to its average volume of 1,423,173. Analog Devices, Inc. has a fifty-two week low of $90.53 and a fifty-two week high of $124.79. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $118.57 and a 200-day simple moving average of $113.78. The firm has a market cap of $44.35 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.42.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.03). Analog Devices had a return on equity of 16.39% and a net margin of 22.75%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Analog Devices’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 4.78 EPS for the current fiscal year.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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