Teacher Retirement System of Texas Buys 196,878 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Teacher Retirement System of Texas lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 696.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,144 shares of the semiconductor company's stock after purchasing an additional 196,878 shares during the quarter. Teacher Retirement System of Texas' holdings in Analog Devices were worth $47,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. boosted its stake in shares of Analog Devices by 94.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 494,013 shares of the semiconductor company's stock valued at $104,958,000 after purchasing an additional 240,137 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 27.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 29,208 shares of the semiconductor company's stock worth $5,783,000 after acquiring an additional 6,338 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in Analog Devices by 55.9% in the 4th quarter. Vinva Investment Management Ltd now owns 20,992 shares of the semiconductor company's stock worth $4,462,000 after purchasing an additional 7,529 shares in the last quarter. Stokes Family Office LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $355,000. Finally, Xponance Inc. grew its holdings in shares of Analog Devices by 1.2% during the fourth quarter. Xponance Inc. now owns 74,698 shares of the semiconductor company's stock worth $15,870,000 after purchasing an additional 875 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADI shares. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. UBS Group raised their target price on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Finally, Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $5,082,860 over the last three months. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Up 0.6 %

ADI stock traded up $1.24 during midday trading on Tuesday, reaching $213.58. 2,549,789 shares of the company's stock traded hands, compared to its average volume of 3,111,066. The company has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a P/E/G ratio of 2.85 and a beta of 1.07. 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 $182.57 and a 52 week high of $247.10. The firm's fifty 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 posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.