Kentucky Retirement Systems Sells 2,081 Shares of Analog Devices, Inc. $ADI

Kentucky Retirement Systems cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,760 shares of the semiconductor company’s stock after selling 2,081 shares during the quarter. Kentucky Retirement Systems’ holdings in Analog Devices were worth $7,560,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new stake in Analog Devices during the second quarter valued at $889,000. Advisory Services Network LLC raised its position in shares of Analog Devices by 46.4% in the 2nd quarter. Advisory Services Network LLC now owns 39,949 shares of the semiconductor company’s stock worth $8,974,000 after acquiring an additional 12,659 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Analog Devices by 21.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,605 shares of the semiconductor company’s stock valued at $1,096,000 after purchasing an additional 800 shares during the period. Hollencrest Capital Management boosted its position in shares of Analog Devices by 12.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,255 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 142 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC boosted its position in shares of Analog Devices by 1.5% during the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 30,993 shares of the semiconductor company’s stock valued at $7,377,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $279.32 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $246.14 and a two-hundred day simple moving average of $240.29. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The firm has a market capitalization of $136.77 billion, a PE ratio of 61.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $1.67 earnings per share. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Analysts Set New Price Targets

Several brokerages have issued reports on ADI. Evercore ISI dropped their price target on Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Truist Financial lifted their price objective on shares of Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a research note on Wednesday, November 26th. Cfra reiterated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research report on Tuesday, November 25th. BNP Paribas initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 price target on shares of Analog Devices in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $283.61.

Insider Buying and Selling

In related news, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. The trade was a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,419 shares of company stock valued at $8,791,598. 0.33% of the stock is owned by company insiders.

Analog Devices Company 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.