Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 33.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 320,437 shares of the semiconductor company’s stock after selling 161,882 shares during the quarter. Public Sector Pension Investment Board’s holdings in Analog Devices were worth $64,623,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management boosted its stake in Analog Devices by 11.4% during the 1st quarter. Hemington Wealth Management now owns 538 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 55 shares during the period. Continuum Advisory LLC raised its holdings in shares of Analog Devices by 14.8% during the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 57 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Analog Devices by 0.4% during the first quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company’s stock worth $2,929,000 after buying an additional 58 shares during the period. Alps Advisors Inc. grew its holdings in Analog Devices by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 60 shares in the last quarter. Finally, Sfmg LLC increased its position in Analog Devices by 2.7% in the 1st quarter. Sfmg LLC now owns 2,301 shares of the semiconductor company’s stock valued at $464,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. Cfra Research cut Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group began coverage on shares of Analog Devices in a research note on Thursday, July 10th. They set a “buy” rating and a $285.00 target price on the stock. Morgan Stanley reduced their price target on shares of Analog Devices from $214.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Benchmark reiterated a “buy” rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, Piper Sandler dropped their target price on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.89.

Analog Devices Stock Performance

Analog Devices stock opened at $223.95 on Monday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The firm’s 50 day simple moving average is $232.32 and its 200-day simple moving average is $215.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The company has a market cap of $111.13 billion, a P/E ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. Analog Devices’s dividend payout ratio is currently 107.90%.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.