Teacher Retirement System of Texas Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Teacher Retirement System of Texas trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,393 shares of the semiconductor company's stock after selling 39,751 shares during the period. Teacher Retirement System of Texas' holdings in Analog Devices were worth $37,388,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Menard Financial Group LLC bought a new position in shares of Analog Devices in the 4th quarter worth $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices in the 1st quarter worth $27,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Williams Trading set a $260.00 target price on shares of Analog Devices in a research report on Friday, May 23rd. Oppenheimer raised 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. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Barclays increased their price objective on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued 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 an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Stock Performance

Analog Devices stock traded up $0.93 during mid-day trading on Friday, reaching $246.08. 1,837,392 shares of the company's stock were exchanged, compared to its average volume of 3,599,370. The business's fifty day simple moving average is $221.10 and its 200 day simple moving average is $212.71. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market capitalization of $122.12 billion, a PE ratio of 67.05, a P/E/G ratio of 2.27 and a beta of 1.02.

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. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director owned 180,071 shares in the company, valued at $35,265,104.64. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 sale, 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. Over the last quarter, insiders sold 16,250 shares of company stock worth $3,143,556. Corporate insiders own 0.33% of the company's stock.

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.