Kentucky Retirement Systems Insurance Trust Fund Sells 3,677 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,015 shares of the semiconductor company’s stock after selling 3,677 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Analog Devices were worth $2,340,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Waycross Partners LLC lifted its position in Analog Devices by 3.8% during the 4th quarter. Waycross Partners LLC now owns 97,261 shares of the semiconductor company’s stock valued at $20,664,000 after acquiring an additional 3,567 shares during the period. BKM Wealth Management LLC lifted its position in Analog Devices by 10.0% during the 4th quarter. BKM Wealth Management LLC now owns 11,948 shares of the semiconductor company’s stock valued at $2,538,000 after acquiring an additional 1,088 shares during the period. Kestra Investment Management LLC purchased a new position in Analog Devices during the 4th quarter valued at about $41,000. Venturi Wealth Management LLC raised its holdings in Analog Devices by 56.9% in the fourth quarter. Venturi Wealth Management LLC now owns 7,487 shares of the semiconductor company’s stock worth $1,591,000 after buying an additional 2,714 shares during the last quarter. Finally, Citizens & Northern Corp raised its holdings in Analog Devices by 5.6% in the fourth quarter. Citizens & Northern Corp now owns 9,951 shares of the semiconductor company’s stock worth $2,114,000 after buying an additional 528 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark assumed coverage on shares of Analog Devices in a report on Friday. They issued a “buy” rating and a $245.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $248.52.

Analog Devices Price Performance

Analog Devices stock opened at $214.61 on Tuesday. The company has a market cap of $106.47 billion, a price-to-earnings ratio of 65.23, a PEG ratio of 2.38 and a beta of 1.04. The firm’s fifty day moving average is $214.04 and its 200 day moving average is $219.59. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is presently 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.