New York State Common Retirement Fund Has $155.56 Million Stock Position in Analog Devices, Inc. $ADI

New York State Common Retirement Fund lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 633,133 shares of the semiconductor company’s stock after selling 64,009 shares during the quarter. New York State Common Retirement Fund’s holdings in Analog Devices were worth $155,561,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd increased its holdings in shares of Analog Devices by 20.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 5,755 shares of the semiconductor company’s stock worth $1,414,000 after purchasing an additional 967 shares during the period. Ballentine Partners LLC grew its position in Analog Devices by 2.0% during the third quarter. Ballentine Partners LLC now owns 12,480 shares of the semiconductor company’s stock worth $3,066,000 after buying an additional 247 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Analog Devices by 11.9% during the third quarter. Valeo Financial Advisors LLC now owns 5,653 shares of the semiconductor company’s stock worth $1,389,000 after buying an additional 601 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its stake in Analog Devices by 16.1% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 3,957 shares of the semiconductor company’s stock valued at $972,000 after acquiring an additional 549 shares during the period. Finally, EPG Wealth Management LLC raised its holdings in Analog Devices by 4.5% in the 3rd quarter. EPG Wealth Management LLC now owns 5,786 shares of the semiconductor company’s stock valued at $1,422,000 after acquiring an additional 251 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADI has been the topic of several recent research reports. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Bank of America boosted their price target on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Citigroup raised their price objective on shares of Analog Devices from $290.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Cfra restated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $275.07, for a total value of $2,750,700.00. Following the completion of the sale, the chief executive officer owned 155,688 shares in the company, valued at approximately $42,825,098.16. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total transaction of $928,968.75. Following the transaction, the director owned 130,071 shares in the company, valued at $38,666,206.17. The trade was a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 53,544 shares of company stock worth $14,328,561. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $317.63 on Thursday. The stock has a market capitalization of $155.20 billion, a P/E ratio of 69.66, a price-to-earnings-growth ratio of 1.64 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $318.17. The firm has a 50 day moving average of $280.63 and a 200-day moving average of $253.44.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.2%. Analog Devices’s dividend payout ratio is 86.84%.

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.