Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,644 shares of the semiconductor company's stock after selling 2,298 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Analog Devices were worth $8,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADI. Grove Bank & Trust boosted its holdings in Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after purchasing an additional 43 shares in the last quarter. Legacy Financial Advisors Inc. boosted its stake in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock valued at $795,000 after buying an additional 48 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock valued at $455,000 after buying an additional 48 shares in the last quarter. Bank of Hawaii grew its holdings in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after acquiring an additional 48 shares during the period. Finally, SouthState Corp raised its position in Analog Devices by 28.6% in the second quarter. SouthState Corp now owns 225 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 50 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Down 0.5 %

Shares of ADI traded down $1.11 on Friday, hitting $216.61. 3,067,133 shares of the stock traded hands, compared to its average volume of 3,225,052. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The stock's 50 day moving average is $222.40 and its two-hundred day moving average is $225.64. The firm has a market capitalization of $107.50 billion, a P/E ratio of 65.13, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm posted $2.01 EPS. The company's revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. Analog Devices's dividend payout ratio (DPR) is 111.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Truist Financial reduced their price target on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Finally, TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.33.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares of the company's stock, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock worth $24,754,600. Corporate insiders own 0.31% of the company's stock.

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.