Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,239 shares of the semiconductor company’s stock after selling 22,206 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Analog Devices worth $83,972,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the third quarter valued at $28,000. Archer Investment Corp raised its stake in shares of 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. Financial Life Planners acquired a new stake in shares of Analog Devices in the fourth quarter valued at $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the third quarter valued at $43,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Analog Devices in the third quarter valued at $48,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $209.34 on Friday. 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. The business’s 50-day moving average price is $214.22 and its 200 day moving average price is $219.87. The firm has a market cap of $103.86 billion, a P/E ratio of 63.63, a P/E/G ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during 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%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 earnings per share. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.76%. Analog Devices’s payout ratio is currently 111.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADI. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Benchmark started coverage on Analog Devices in a report on Friday. They issued a “buy” rating and a $245.00 target price on the stock. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $248.52.

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.