Strs Ohio Sells 88,796 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Strs Ohio lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,401 shares of the semiconductor company’s stock after selling 88,796 shares during the period. Strs Ohio’s holdings in Analog Devices were worth $28,672,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Analog Devices by 1.2% during the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after purchasing an additional 238,249 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Invesco Ltd. raised its position in shares of Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after purchasing an additional 701,367 shares during the period. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at about $1,040,194,000. Finally, Morgan Stanley raised its position in shares of Analog Devices by 16.1% in the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock valued at $982,344,000 after purchasing an additional 830,281 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $190.29 on Tuesday. The company’s 50-day moving average price is $193.20 and its two-hundred day moving average price is $186.33. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a market cap of $94.37 billion, a P/E ratio of 34.04, a P/E/G ratio of 4.82 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company posted $2.75 EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.93%. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. The Goldman Sachs Group raised their price target on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. KeyCorp raised their price target on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $206.26.

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.