Sumitomo Mitsui Trust Group lowers stake in Analog Devices

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Analog Devices by 1.6% during the third quarter, selling 27,828 shares during the period, according to a recent SEC disclosure. At the end of the reporting period, the firm owned approximately 0.35% of Analog Devices, valued at $680,970,000. Other investors also adjusted their positions in Analog Devices during the third quarter, including Mirae Asset Global Investments Co. Ltd. and ProShare Advisors LLC.

The reduction in holdings by Sumitomo Mitsui Trust Group Inc. reflects changes in institutional investment activity within the semiconductor sector. This action is part of a broader trend of various large investors adding to or reducing their stakes in Analog Devices.