Taikang Asset Management Hong Kong Co Ltd Has $2.59 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Taikang Asset Management Hong Kong Co Ltd grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 35.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,200 shares of the semiconductor company’s stock after purchasing an additional 3,200 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Analog Devices were worth $2,592,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of Hawaii grew its holdings in shares of Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the last quarter. Midwest Professional Planners LTD. boosted its position in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. NTV Asset Management LLC grew its stake in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,000 shares of company stock worth $5,082,860. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADI shares. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Trading Up 3.9 %

NASDAQ:ADI opened at $212.34 on Tuesday. The firm has a fifty day simple moving average of $217.16 and a two-hundred day simple moving average of $219.78. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a market capitalization of $105.32 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Analog Devices 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.