Illinois Municipal Retirement Fund Has $4.29 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Illinois Municipal Retirement Fund lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,608 shares of the semiconductor company’s stock after purchasing 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.

Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System boosted its position in Analog Devices by 19.6% during the 4th quarter. California Public Employees Retirement System now owns 1,926,587 shares of the semiconductor company’s stock worth $382,543,000 after acquiring an additional 315,712 shares during the last quarter. RWA Wealth Partners LLC increased its position in Analog Devices by 34.4% during the 4th quarter. RWA Wealth Partners LLC now owns 11,771 shares of the semiconductor company’s stock worth $2,337,000 after buying an additional 3,016 shares during the period. Mengis Capital Management Inc. bought a new position in shares of Analog Devices in the fourth quarter worth $207,000. Duality Advisers LP bought a new position in shares of Analog Devices in the fourth quarter worth $947,000. Finally, North Star Asset Management Inc. increased its position in shares of Analog Devices by 0.5% in the fourth quarter. North Star Asset Management Inc. now owns 112,026 shares of the semiconductor company’s stock worth $22,244,000 after purchasing an additional 555 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the company’s 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 sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 3.5 %

ADI stock opened at $196.50 on Thursday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The business has a fifty day moving average price of $192.97 and a 200-day moving average price of $187.00. 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 stock has a market capitalization 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 (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

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

Analysts Set New Price Targets

ADI has been the topic of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Finally, Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research note on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $208.17.

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.