Rakuten Investment Management Inc. Invests $35.30 Million in Analog Devices, Inc. $ADI

Rakuten Investment Management Inc. acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, Holdings Channel reports. The fund acquired 143,689 shares of the semiconductor company’s stock, valued at approximately $35,304,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new position in Analog Devices during the 2nd quarter valued at $25,000. RMG Wealth Management LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC acquired a new position in shares of Analog Devices in the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC lifted its stake in Analog Devices by 141.8% during the third 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 during the last quarter. Finally, Access Investment Management LLC acquired a new position in Analog Devices in the second quarter worth approximately $45,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $295.67 on Wednesday. The business’s 50-day moving average is $271.86 and its 200-day moving average is $250.83. 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 company has a market capitalization of $144.77 billion, a price-to-earnings ratio of 64.84, a P/E/G ratio of 1.62 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $309.17.

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

Analog Devices Announces Dividend

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

Analysts Set New Price Targets

ADI has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. UBS Group increased their price target on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Cfra reaffirmed a “buy” rating and set a $280.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Wells Fargo & Company set a $340.00 target price on shares of Analog Devices and gave the stock an “overweight” rating in a report on Thursday, January 15th. Finally, Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $305.52.

Insiders Place Their Bets

In other Analog Devices news, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total value of $2,784,400.00. Following the transaction, the senior vice president directly owned 49,664 shares of the company’s stock, valued at $13,828,444.16. This represents a 16.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $301.46, for a total value of $150,730.00. Following the sale, the senior vice president directly owned 12,710 shares of the company’s stock, valued at $3,831,556.60. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 in the last three months. Company 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.