Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Strs Ohio

Strs Ohio trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in Analog Devices by 1.2% in the 1st quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after purchasing an additional 238,249 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 22.0% during the third 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. lifted its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter worth about $1,040,194,000. Finally, Morgan Stanley lifted its position in shares of Analog Devices by 16.1% during the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after purchasing an additional 830,281 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other Analog Devices 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 value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,825,113 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $190.29 on Tuesday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market capitalization of $94.37 billion, a PE ratio of 34.04, a P/E/G ratio of 4.82 and a beta of 1.17. The company’s 50 day simple moving average is $193.20 and its 200 day simple moving average is $186.33.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS 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 business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $2.75 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

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

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research report on Thursday, January 18th. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Truist Financial cut their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $206.26.

About Analog Devices

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.