Nan Shan Life Insurance Co. Ltd. Purchases 204,640 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nan Shan Life Insurance Co. Ltd. grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 874.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,049 shares of the semiconductor company’s stock after acquiring an additional 204,640 shares during the period. Analog Devices comprises about 1.2% of Nan Shan Life Insurance Co. Ltd.’s portfolio, making the stock its 27th largest holding. Nan Shan Life Insurance Co. Ltd.’s holdings in Analog Devices were worth $48,451,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Broderick Brian C raised its position in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP acquired a new stake in Analog Devices during the 4th quarter worth approximately $10,212,000. Curbstone Financial Management Corp acquired a new position in Analog Devices in the 4th quarter valued at $460,000. Synergy Asset Management LLC grew its holdings in Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after buying an additional 2,554 shares in the last quarter. Finally, RFG Advisory LLC lifted its holdings in shares of Analog Devices by 3.9% during 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 in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock valued at $8,735,156 over the last ninety days. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Barclays cut their price objective on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $250.20.

Analog Devices Trading Up 1.6%

Shares of NASDAQ ADI opened at $226.68 on Wednesday. The firm has a 50 day moving average price of $195.99 and a two-hundred day moving average price of $210.52. The stock has a market cap of $112.43 billion, a P/E ratio of 72.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

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

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices Company 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.