New York State Common Retirement Fund Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

New York State Common Retirement Fund lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 750,309 shares of the semiconductor company's stock after purchasing an additional 1,751 shares during the period. New York State Common Retirement Fund owned about 0.15% of Analog Devices worth $151,315,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of Analog Devices in the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the 4th quarter worth about $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices in the 1st quarter worth about $27,000. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, North Capital Inc. purchased a new stake in shares of Analog Devices in the 1st quarter worth about $36,000. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of recent research reports. KeyCorp lifted 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. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Stifel Nicolaus lifted their price target on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler lowered their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $250.00 to $270.00 in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.67.

Analog Devices Stock Performance

ADI stock traded down $2.07 during midday trading on Monday, reaching $242.61. 492,987 shares of the company's stock traded hands, compared to its average volume of 3,592,158. The stock's 50-day moving average is $226.02 and its 200 day moving average is $213.72. The stock has a market cap of $120.40 billion, a P/E ratio of 66.02, a PEG ratio of 2.26 and a beta of 1.02. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73. 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 (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share 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 quarter last year, the company posted $1.40 EPS. The company's revenue was up 22.3% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction 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 trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $3,143,556 in the last ninety days. Insiders own 0.33% of the company's stock.

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.