Analog Devices, Inc. (NASDAQ:ADI) Stake Decreased by South Dakota Investment Council

South Dakota Investment Council decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,552 shares of the semiconductor company's stock after selling 2,131 shares during the period. South Dakota Investment Council's holdings in Analog Devices were worth $2,733,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC grew its position in Analog Devices by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 44,663 shares of the semiconductor company's stock worth $9,007,000 after purchasing an additional 1,105 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Analog Devices by 14.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,803 shares of the semiconductor company's stock valued at $2,784,000 after acquiring an additional 1,746 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Analog Devices by 1.5% in the first quarter. Kingsview Wealth Management LLC now owns 44,475 shares of the semiconductor company's stock worth $8,969,000 after acquiring an additional 639 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in Analog Devices by 0.8% in the first quarter. Cullen Frost Bankers Inc. now owns 80,591 shares of the semiconductor company's stock valued at $16,253,000 after purchasing an additional 677 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new stake in shares of Analog Devices during the 1st quarter worth about $333,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of ADI opened at $241.85 on Friday. The company has a 50 day moving average of $230.08 and a 200-day moving average of $214.68. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $120.02 billion, a P/E ratio of 65.90, a P/E/G ratio of 2.23 and a beta of 1.02. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Analog Devices's revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.64%. Analog Devices's dividend payout ratio is 107.90%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $3,327,994. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADI. Stifel Nicolaus lifted their price objective on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Keefe, Bruyette & Woods raised Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. KeyCorp boosted their price target on shares of Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Oppenheimer upped their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

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.

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