Kentucky Retirement Systems Insurance Trust Fund Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems Insurance Trust Fund increased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,414 shares of the semiconductor company's stock after purchasing an additional 3,399 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Analog Devices were worth $2,907,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake in Analog Devices by 63.2% in the 4th 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. Hedge funds and other institutional investors own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research reports. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $250.00 to $270.00 in a research note on Wednesday. Williams Trading set a $260.00 price objective on shares of Analog Devices in a research note on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a research note on Friday, May 23rd. They set a "buy" rating on the stock. UBS Group decreased their price target on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $251.75.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,934 shares of company stock valued at $5,807,196 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Analog Devices Price Performance

ADI opened at $228.35 on Friday. The company's 50 day simple moving average is $209.55 and its 200 day simple moving average is $211.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The stock has a market capitalization of $113.32 billion, a PE ratio of 62.22, a P/E/G ratio of 2.11 and a beta of 1.00.

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 net margin of 18.65% and a return on equity of 9.56%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given 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 yield of 1.73%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

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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