Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,453 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,568 shares of the semiconductor company's stock after selling 2,453 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Analog Devices were worth $22,429,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADI. State Street Corp increased its stake in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the period. Geode Capital Management LLC increased its position in Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock valued at $2,377,094,000 after acquiring an additional 135,838 shares during the period. Franklin Resources Inc. increased its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. FMR LLC raised its stake in Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock valued at $1,700,640,000 after acquiring an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company's stock worth $1,058,364,000 after acquiring an additional 226,716 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

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Analog Devices Stock Up 0.6 %

Shares of ADI traded up $1.24 during midday trading on Tuesday, hitting $213.58. The company had a trading volume of 2,549,789 shares, compared to its average volume of 3,111,066. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company's 50 day moving average price is $217.16 and its 200 day moving average price is $219.78.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.85%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADI shares. Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. Piper Sandler lowered their target price 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. Morgan Stanley increased their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) 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, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $5,082,860 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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.