Oregon Public Employees Retirement Fund Grows Stock Holdings in Analog Devices, Inc. $ADI

Oregon Public Employees Retirement Fund boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,708 shares of the semiconductor company’s stock after buying an additional 13,904 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Analog Devices were worth $13,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Analog Devices during the second quarter worth $1,803,377,000. Marshall Wace LLP increased its position in shares of Analog Devices by 948.2% in the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after buying an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Analog Devices by 47.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after buying an additional 882,909 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after buying an additional 761,861 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after buying an additional 752,411 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler set a $290.00 target price on shares of Analog Devices in a research report on Tuesday, November 25th. Sanford C. Bernstein restated a “market perform” rating and set a $270.00 price objective on shares of Analog Devices in a research report on Wednesday, November 26th. UBS Group increased their target price on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a report on Monday, December 8th. Evercore ISI dropped their price target on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Finally, Morgan Stanley upped their price objective on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Trading Up 0.6%

Shares of Analog Devices stock opened at $300.93 on Friday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $303.20. The business’s fifty day moving average is $262.65 and its two-hundred day moving average is $247.85. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The firm has a market cap of $147.35 billion, a PE ratio of 65.99, a P/E/G ratio of 1.65 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $3.02 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is presently 86.84%.

Insiders Place Their Bets

In other news, SVP Martin Cotter sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the completion of the sale, the senior vice president directly owned 59,664 shares in the company, valued at $16,180,280.16. This represents a 7.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the completion of the transaction, the director directly owned 136,321 shares in the company, valued at $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 39,919 shares of company stock valued at $10,464,462. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Profile

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.