Teacher Retirement System of Texas Acquires 196,878 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Teacher Retirement System of Texas boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 696.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,144 shares of the semiconductor company’s stock after purchasing an additional 196,878 shares during the period. Teacher Retirement System of Texas’ holdings in Analog Devices were worth $47,834,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Analog Devices during the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP increased its position in shares of Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after buying an additional 823,709 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Down 1.9 %

NASDAQ:ADI opened at $205.90 on Friday. The company’s 50 day moving average price is $217.33 and its 200-day moving average price is $220.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $102.12 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. Analog Devices’s dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $5,082,860 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.