Public Employees Retirement Association of Colorado Has $14.09 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Public Employees Retirement Association of Colorado reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,321 shares of the semiconductor company's stock after selling 2,592 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Analog Devices were worth $14,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in Analog Devices in the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,809 shares of company stock valued at $6,154,756 in the last ninety days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $4.85 during trading on Friday, hitting $198.59. 3,795,757 shares of the stock were exchanged, compared to its average volume of 3,473,937. The company has a market capitalization of $98.50 billion, a price-to-earnings ratio of 63.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The company's fifty day simple moving average is $199.53 and its 200-day simple moving average is $211.78.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The business's revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.99%. Analog Devices's dividend payout ratio is presently 126.11%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADI. Barclays decreased their price objective on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $250.43.

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.