Arizona State Retirement System Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

Arizona State Retirement System boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,766 shares of the semiconductor company’s stock after buying an additional 1,355 shares during the period. Arizona State Retirement System’s holdings in Analog Devices were worth $32,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Millennium Group LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $29,000. USA Financial Formulas boosted its holdings in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the period. Private Wealth Management Group LLC bought a new position in Analog Devices in the 4th quarter worth $29,000. Riverview Trust Co bought a new position in Analog Devices in the 1st quarter worth $30,000. Finally, ORG Partners LLC lifted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock valued at $11,301,610 over the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. UBS Group upped their price target on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. TD Cowen increased their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Trading Down 1.2 %

NASDAQ ADI opened at $219.06 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $225.68 and a two-hundred day simple moving average of $213.63. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The stock has a market cap of $108.70 billion, a P/E ratio of 51.18, a P/E/G ratio of 3.91 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company posted $2.49 earnings per share. The firm’s revenue was down 24.8% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.