California Public Employees Retirement System Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

California Public Employees Retirement System cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,574,253 shares of the semiconductor company's stock after selling 36,155 shares during the quarter. California Public Employees Retirement System owned 0.32% of Analog Devices worth $334,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Midwest Professional Planners LTD. raised its holdings in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC increased its stake in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after acquiring an additional 53 shares in the last quarter. NTV Asset Management LLC lifted its position in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC boosted its stake in Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after acquiring an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Oppenheimer reiterated an "outperform" rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $255.41.

Analog Devices Trading Down 8.7 %

ADI traded down $17.38 during trading on Thursday, hitting $182.21. 1,930,226 shares of the stock were exchanged, compared to its average volume of 3,286,249. Analog Devices, Inc. has a 1 year low of $181.77 and a 1 year high of $247.10. The firm has a market cap of $90.37 billion, a price-to-earnings ratio of 58.03, a P/E/G ratio of 2.85 and a beta of 1.07. The firm has a 50 day simple moving average of $215.22 and a 200 day simple moving average of $219.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The firm's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is 126.11%.

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.