Retirement Systems of Alabama Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Retirement Systems of Alabama reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 109,823 shares of the semiconductor company’s stock after selling 3,553 shares during the quarter. Retirement Systems of Alabama’s holdings in Analog Devices were worth $21,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Amarillo National Bank increased its holdings in Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services raised its holdings in Analog Devices by 1.8% in the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 55 shares in the last quarter. Ancora Advisors LLC boosted its stake in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 57 shares during the last quarter. Legacy Advisors LLC grew its holdings in Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 59 shares in the last quarter. Finally, MRA Advisory Group increased its position in shares of Analog Devices by 2.5% in the 3rd quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

ADI stock opened at $203.90 on Tuesday. The business’s 50-day moving average price is $193.76 and its two-hundred day moving average price is $187.66. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The firm has a market cap of $101.12 billion, a PE ratio of 36.48, a P/E/G ratio of 5.07 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. As a group, research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Evercore ISI assumed coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Morgan Stanley reiterated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

About Analog Devices

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.