Arizona State Retirement System Acquires 2,096 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Arizona State Retirement System grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,485 shares of the semiconductor company's stock after buying an additional 2,096 shares during the period. Arizona State Retirement System's holdings in Analog Devices were worth $29,340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ADI. Norges Bank bought a new stake in shares of Analog Devices during the 4th quarter valued at $1,755,958,000. GAMMA Investing LLC boosted its holdings in shares of Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after buying an additional 2,203,062 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Analog Devices by 71.0% during the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after buying an additional 896,694 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Analog Devices by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock valued at $708,260,000 after buying an additional 668,023 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares of the company's stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Trading Down 0.2%

Shares of NASDAQ:ADI opened at $244.68 on Friday. The stock has a 50 day moving average of $226.02 and a 200 day moving average of $213.78. The company has a market cap of $121.42 billion, a PE ratio of 66.67, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analysts Set New Price Targets

ADI has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Analog Devices in a research note on Thursday. They issued a "buy" rating and a $285.00 price target on the stock. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Benchmark reiterated a "buy" rating and issued a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Morgan Stanley dropped their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $257.67.

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.

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