New York State Teachers Retirement System Lowers Position in Analog Devices, Inc. $ADI

New York State Teachers Retirement System reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 376,071 shares of the semiconductor company’s stock after selling 4,801 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Analog Devices worth $92,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Solstein Capital LLC raised its position in Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after buying an additional 46 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Analog Devices by 684.6% during the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after acquiring an additional 752,411 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Analog Devices by 22.3% during the third quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock valued at $317,789,000 after purchasing an additional 236,211 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Analog Devices by 55.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,204,226 shares of the semiconductor company’s stock valued at $295,878,000 after purchasing an additional 427,467 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Analog Devices by 15.5% during the third quarter. Cerity Partners LLC now owns 303,069 shares of the semiconductor company’s stock valued at $74,463,000 after purchasing an additional 40,738 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $300.93 on Friday. The firm has a fifty day moving average price of $262.65 and a 200 day moving average price of $247.94. The stock has a market cap of $147.35 billion, a PE ratio of 65.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $303.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.3%. Analog Devices’s payout ratio is currently 86.84%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADI shares. Piper Sandler set a $290.00 price objective on Analog Devices in a research report on Tuesday, November 25th. Stifel Nicolaus set a $280.00 price target on shares of Analog Devices in a research report on Friday, November 21st. BNP Paribas began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Wall Street Zen cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Robert W. Baird boosted their price objective on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Insiders Place Their Bets

In related news, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Martin Cotter sold 5,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the sale, the senior vice president directly owned 59,664 shares in the company, valued at $16,180,280.16. This represents a 7.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 39,919 shares of company stock valued at $10,464,462. 0.33% of the stock is owned by insiders.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.