Arizona State Retirement System Purchases 1,212 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Arizona State Retirement System grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,389 shares of the semiconductor company's stock after buying an additional 1,212 shares during the period. Arizona State Retirement System's holdings in Analog Devices were worth $30,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter worth about $28,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth approximately $30,000. Archer Investment Corp raised its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Down 1.0 %

ADI opened at $226.18 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company's 50 day moving average price is $217.98 and its two-hundred day moving average price is $221.16. The firm has a market capitalization of $112.18 billion, a price-to-earnings ratio of 72.03, a PEG ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADI shares. UBS Group lifted their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.41.

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.

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