New York State Teachers Retirement System Has $76.80 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

New York State Teachers Retirement System reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,819 shares of the semiconductor company's stock after selling 14,420 shares during the period. New York State Teachers Retirement System owned 0.08% of Analog Devices worth $76,800,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after acquiring an additional 529 shares during the period. Cantillon Capital Management LLC lifted its holdings in shares of Analog Devices by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,309,278 shares of the semiconductor company's stock worth $490,629,000 after purchasing an additional 12,156 shares in the last quarter. Purkiss Capital Advisors LLC acquired a new stake in Analog Devices in the 4th quarter valued at $205,000. BlueStem Wealth Partners LLC acquired a new stake in Analog Devices in the 4th quarter valued at $334,000. Finally, Maia Wealth LLC grew its position in Analog Devices by 25.6% in the 4th quarter. Maia Wealth LLC now owns 1,980 shares of the semiconductor company's stock valued at $427,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Morgan Stanley reduced their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Noble Financial raised shares of Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. TD Cowen lifted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Oppenheimer lifted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $251.75.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. 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. Company insiders own 0.33% of the company's stock.

Analog Devices Trading Down 0.1%

NASDAQ ADI opened at $236.96 on Monday. The stock has a market capitalization of $117.59 billion, a price-to-earnings ratio of 64.57, a PEG ratio of 2.19 and a beta of 1.00. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The business's fifty day moving average is $215.31 and its 200-day moving average is $211.67.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

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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