Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 12.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,608 shares of the semiconductor company’s stock after acquiring an additional 2,432 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Analog Devices were worth $4,290,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Invesco Ltd. grew its position in shares of Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Analog Devices by 11.7% during the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after buying an additional 397,753 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Analog Devices by 7.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after buying an additional 225,048 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Analog Devices by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,532,127 shares of the semiconductor company’s stock valued at $443,350,000 after buying an additional 69,181 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. Barclays boosted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Oppenheimer restated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Price Performance

NASDAQ ADI opened at $196.50 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $192.97 and a 200 day simple moving average of $187.00. The company has a market cap of $97.45 billion, a P/E ratio of 35.15, a P/E/G ratio of 4.76 and a beta of 1.17. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is currently 65.83%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company’s stock.

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.