Rakuten Investment Management Inc. Purchases New Holdings in Analog Devices, Inc. $ADI

Rakuten Investment Management Inc. acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 143,689 shares of the semiconductor company’s stock, valued at approximately $35,304,000.

A number of other institutional investors also recently made changes to their positions in ADI. Howard Hughes Medical Institute acquired a new stake in shares of Analog Devices during the second quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new position in Analog Devices during the 2nd quarter worth $26,000. Clayton Financial Group LLC bought a new stake in shares of Analog Devices in the 3rd quarter worth about $31,000. Sound Income Strategies LLC raised its stake in shares of Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares in the last quarter. Finally, Access Investment Management LLC acquired a new position in Analog Devices in the second quarter worth about $45,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on ADI shares. Benchmark reaffirmed a “buy” rating and set a $285.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Truist Financial upped their price target on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Citigroup boosted their target price on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Evercore ISI dropped their target price on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a report on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.52.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $295.67 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The firm has a market capitalization of $144.77 billion, a PE ratio of 64.84, a P/E/G ratio of 1.62 and a beta of 1.03. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $309.17. The business’s fifty day moving average price is $271.86 and its two-hundred day moving average price is $250.83.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.3%. Analog Devices’s dividend payout ratio is 86.84%.

Insider Buying and Selling

In other news, SVP Martin Cotter sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the completion of the transaction, the senior vice president directly owned 49,664 shares in the company, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,544 shares of company stock valued at $14,328,561 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.