Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $22.43 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,568 shares of the semiconductor company’s stock after selling 2,453 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Analog Devices were worth $22,429,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its position in Analog Devices by 5.5% in the 4th quarter. iA Global Asset Management Inc. now owns 55,063 shares of the semiconductor company’s stock valued at $11,699,000 after buying an additional 2,881 shares during the last quarter. Talos Asset Management LP acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $24,497,000. Fiduciary Group LLC lifted its position in shares of Analog Devices by 30.3% in the fourth quarter. Fiduciary Group LLC now owns 5,364 shares of the semiconductor company’s stock worth $1,140,000 after purchasing an additional 1,248 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Analog Devices by 696.5% during the fourth quarter. Teacher Retirement System of Texas now owns 225,144 shares of the semiconductor company’s stock worth $47,834,000 after purchasing an additional 196,878 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position in Analog Devices by 94.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 494,013 shares of the semiconductor company’s stock valued at $104,958,000 after purchasing an additional 240,137 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADI shares. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock worth $5,082,860. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $205.90 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market cap of $102.12 billion, a price-to-earnings ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07. The stock’s fifty day moving average price is $217.33 and its two-hundred day moving average price is $220.05. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

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

Analog Devices Increases Dividend

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

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

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.