Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 26.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,425 shares of the semiconductor company's stock after selling 58,484 shares during the quarter. State of Tennessee Department of Treasury's holdings in Analog Devices were worth $35,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ADI. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADI has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays decreased their price target on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Finally, Williams Trading set a $245.00 target price on shares of Analog Devices in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average target price of $250.43.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock worth $6,154,756 over the last 90 days. Insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

ADI stock traded down $0.64 during trading on Friday, hitting $194.59. 3,206,761 shares of the company's stock traded hands, compared to its average volume of 3,459,754. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The stock has a fifty day moving average price of $203.25 and a two-hundred day moving average price of $212.60. The stock has a market capitalization of $96.51 billion, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 2.04%. Analog Devices's payout ratio is presently 126.11%.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

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.