Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,046 shares of the semiconductor company’s stock after selling 2,496 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Analog Devices were worth $8,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ADI. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas lifted its holdings in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $29,000. Finally, Riverview Trust Co purchased a new stake in shares of Analog Devices in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. TD Cowen upped their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. UBS Group increased their price objective on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Truist Financial increased their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America increased their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,642 shares of company stock worth $8,510,743. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $10.96 during trading hours on Friday, reaching $207.96. The company’s stock had a trading volume of 6,796,683 shares, compared to its average volume of 3,382,127. The company’s 50 day simple moving average is $231.39 and its 200 day simple moving average is $209.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The stock has a market cap of $103.19 billion, a P/E ratio of 48.59, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $2.83 EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Analog Devices’s payout ratio is currently 85.98%.

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.