Texas Permanent School Fund Corp Sells 27,799 Shares of Analog Devices, Inc. $ADI

Texas Permanent School Fund Corp trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 44.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 34,795 shares of the semiconductor company’s stock after selling 27,799 shares during the period. Texas Permanent School Fund Corp’s holdings in Analog Devices were worth $8,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ADI. Caldwell Trust Co bought a new stake in shares of Analog Devices in the second quarter valued at about $1,490,000. Valeo Financial Advisors LLC raised its holdings in Analog Devices by 6.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,052 shares of the semiconductor company’s stock valued at $1,203,000 after acquiring an additional 317 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Analog Devices by 11.4% in the 2nd quarter. Centaurus Financial Inc. now owns 2,187 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 224 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Analog Devices by 132.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 62,560 shares of the semiconductor company’s stock worth $14,887,000 after acquiring an additional 35,682 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $1,661,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,419 shares of company stock valued at $8,791,598 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.4%

Shares of Analog Devices stock opened at $280.44 on Tuesday. The stock has a market capitalization of $137.32 billion, a P/E ratio of 61.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $246.90 and a 200 day simple moving average of $240.92. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 earnings per share. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s dividend payout ratio is 86.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADI. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research note on Monday, December 8th. Wells Fargo & Company increased their price objective on shares of Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Morgan Stanley upped their target price on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Finally, Benchmark restated a “buy” rating and set a $285.00 price target on shares of Analog Devices in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $283.61.

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.