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

New York State Teachers Retirement System reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 417,445 shares of the semiconductor company’s stock after selling 15,913 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Analog Devices worth $96,083,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Miracle Mile Advisors LLC lifted its holdings in shares of Analog Devices by 9.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,386 shares of the semiconductor company’s stock worth $670,000 after purchasing an additional 296 shares during the last quarter. Norden Group LLC grew its position in shares of Analog Devices by 1,534.0% during the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after acquiring an additional 25,419 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Analog Devices by 4.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 13,748 shares of the semiconductor company’s stock worth $2,719,000 after acquiring an additional 616 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Analog Devices by 1.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 5,293 shares of the semiconductor company’s stock valued at $1,047,000 after purchasing an additional 71 shares during the last quarter. Finally, Oak Harvest Investment Services boosted its stake in Analog Devices by 1.1% during the 1st quarter. Oak Harvest Investment Services now owns 39,033 shares of the semiconductor company’s stock valued at $7,720,000 after purchasing an additional 442 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADI shares. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Trading Down 1.1 %

Shares of NASDAQ:ADI traded down $2.47 during midday trading on Wednesday, reaching $232.76. The company had a trading volume of 127,548 shares, compared to its average volume of 3,203,923. The company has a fifty day simple moving average of $227.17 and a two-hundred day simple moving average of $222.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm has a market cap of $115.56 billion, a price-to-earnings ratio of 70.64, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $155.16 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. Analog Devices’s payout ratio is currently 110.51%.

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.