State of Alaska Department of Revenue Has $11.72 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

State of Alaska Department of Revenue raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 58,132 shares of the semiconductor company's stock after purchasing an additional 1,520 shares during the quarter. State of Alaska Department of Revenue's holdings in Analog Devices were worth $11,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Midwest Professional Planners LTD. grew its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the period. Portland Global Advisors LLC grew its position in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after buying an additional 53 shares during the period. Cassady Schiller Wealth Management LLC grew its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the period. Lindbrook Capital LLC grew its position in shares of Analog Devices by 1.3% during the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after buying an additional 65 shares during the period. Finally, Missouri Trust & Investment Co grew its position in shares of Analog Devices by 33.0% during the 1st quarter. Missouri Trust & Investment Co now owns 266 shares of the semiconductor company's stock worth $54,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated 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 sale, the director now directly owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,934 shares of company stock worth $5,807,196 in the last ninety days. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ADI shares. Stifel Nicolaus raised their price objective on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. UBS Group reduced their price objective on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Barclays raised their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Benchmark reiterated a "buy" rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $229.65 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The stock's fifty day simple moving average is $207.54 and its two-hundred day simple moving average is $211.05. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The stock has a market cap of $113.96 billion, a PE ratio of 62.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. 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 business earned $1.40 EPS. The business's revenue was up 22.3% on a year-over-year basis. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

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 1.72%. The ex-dividend date of this dividend 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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