Public Sector Pension Investment Board Purchases 2,600 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Public Sector Pension Investment Board boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.7% during the 3rd quarter, Holdings Channel reports. The fund owned 21,612 shares of the semiconductor company’s stock after buying an additional 2,600 shares during the period. Public Sector Pension Investment Board’s holdings in Analog Devices were worth $4,974,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Analog Devices in the third quarter worth about $28,000. New Millennium Group LLC purchased a new stake in Analog Devices during the second quarter valued at approximately $29,000. Archer Investment Corp boosted its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. ORG Partners LLC grew its holdings in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock valued at $24,883,200. 0.31% of the stock is currently owned by insiders.

Analog Devices Price Performance

NASDAQ:ADI opened at $218.05 on Monday. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14. The stock has a market cap of $108.22 billion, a PE ratio of 66.28, a P/E/G ratio of 3.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.84. The stock has a 50 day moving average price of $224.14 and a 200 day moving average price of $226.03.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is presently 111.85%.

Analyst Ratings Changes

ADI has been the subject of a number of recent analyst reports. Truist Financial dropped their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.33.

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.