Public Employees Retirement System of Ohio Purchases Shares of 212,809 Analog Devices, Inc. (NASDAQ:ADI)

Public Employees Retirement System of Ohio acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 212,809 shares of the semiconductor company's stock, valued at approximately $45,213,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC grew its position in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after purchasing an additional 896,694 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADI shares. KGI Securities started coverage on Analog Devices in a research report on Friday. They set a "buy" rating on the stock. Williams Trading set a $260.00 price target on Analog Devices in a research report on Friday. Cantor Fitzgerald increased their price target on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Citigroup increased their price target on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Morgan Stanley reduced their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $248.63.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,934 shares of company stock valued at $8,735,156. Corporate insiders own 0.33% of the company's stock.

Analog Devices Trading Up 3.1%

Analog Devices stock traded up $6.42 during trading hours on Tuesday, reaching $216.89. 5,542,186 shares of the company's stock were exchanged, compared to its average volume of 3,525,334. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $197.67 and its 200 day simple moving average is $210.03. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The firm has a market capitalization of $107.57 billion, a PE ratio of 69.07, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm's revenue was up 22.3% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

Analog Devices announced that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analog Devices Company 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.