New Mexico Educational Retirement Board Acquires 4,300 Shares of Analog Devices, Inc. (NASDAQ:ADI)

New Mexico Educational Retirement Board grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,586 shares of the semiconductor company’s stock after purchasing an additional 4,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Analog Devices were worth $6,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADI. Pinnacle Bancorp Inc. increased its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. USA Financial Formulas grew its position in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices during the third quarter valued at about $29,000. Cetera Trust Company N.A acquired a new position in Analog Devices in the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Analog Devices in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 0.7 %

Shares of ADI stock traded up $1.58 during trading hours on Friday, hitting $228.26. 3,634,130 shares of the company were exchanged, compared to its average volume of 3,017,578. The company has a market capitalization of $113.27 billion, a PE ratio of 53.33, a PEG ratio of 3.85 and a beta of 1.12. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The business has a 50 day moving average of $220.13 and a two-hundred day moving average of $202.65. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $2.83 earnings per share. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.61%. Analog Devices’s payout ratio is currently 85.98%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 50,121 shares of company stock valued at $10,875,654 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the topic of several recent research reports. KeyCorp lifted their target price on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Truist Financial boosted their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein increased their price objective on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Bank of America boosted their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, TD Cowen raised their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

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.