Analog Devices, Inc. $ADI Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,071 shares of the semiconductor company’s stock after selling 4,801 shares during the period. New York State Teachers Retirement System’s holdings in Analog Devices were worth $92,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after acquiring an additional 761,861 shares during the last quarter. State Street Corp raised its holdings in Analog Devices by 2.2% in the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Analog Devices by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices during the second quarter worth $1,803,377,000. Finally, Ameriprise Financial Inc. grew its position in shares of Analog Devices by 6.3% in the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after purchasing an additional 375,207 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Analog Devices in a research note on Monday, December 29th. Zacks Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. UBS Group increased their target price on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their price target on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Stock Up 0.6%

Shares of NASDAQ ADI opened at $300.93 on Friday. The stock has a fifty day moving average price of $262.65 and a 200 day moving average price of $247.94. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $303.20. The company has a market cap of $147.35 billion, a P/E ratio of 65.99, a P/E/G ratio of 1.66 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Martin Cotter sold 5,000 shares of Analog Devices stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the sale, the senior vice president owned 59,664 shares of the company’s stock, valued at $16,180,280.16. The trade was a 7.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the business’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 transaction, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 39,919 shares of company stock valued at $10,464,462. Corporate insiders own 0.33% of the company’s stock.

About Analog Devices

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.