California State Teachers Retirement System decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 612,446 shares of the semiconductor company’s stock after selling 6,230 shares during the period. California State Teachers Retirement System owned about 0.16% of Analog Devices worth $54,526,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ADI. Nationwide Fund Advisors grew its holdings in Analog Devices by 7.4% in the third quarter. Nationwide Fund Advisors now owns 250,791 shares of the semiconductor company’s stock valued at $21,611,000 after purchasing an additional 17,262 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Analog Devices by 4.3% during the third quarter. Victory Capital Management Inc. now owns 25,734 shares of the semiconductor company’s stock valued at $2,217,000 after acquiring an additional 1,060 shares during the last quarter. FDx Advisors Inc. boosted its stake in shares of Analog Devices by 12.9% during the third quarter. FDx Advisors Inc. now owns 15,081 shares of the semiconductor company’s stock valued at $1,300,000 after acquiring an additional 1,723 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Analog Devices by 1.5% during the third quarter. CIBC Asset Management Inc now owns 49,015 shares of the semiconductor company’s stock valued at $4,224,000 after acquiring an additional 741 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Analog Devices by 1.7% during the third quarter. New York State Common Retirement Fund now owns 946,600 shares of the semiconductor company’s stock valued at $81,569,000 after acquiring an additional 15,800 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.
A number of research firms recently commented on ADI. Stifel Nicolaus increased their price objective on Analog Devices from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. BMO Capital Markets increased their price objective on Analog Devices from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, March 1st. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. B. Riley reaffirmed a “buy” rating and set a $113.00 price objective (up previously from $110.00) on shares of Analog Devices in a research note on Thursday, November 16th. Finally, Piper Jaffray Companies raised Analog Devices from a “neutral” rating to an “overweight” rating and set a $92.00 price objective on the stock in a research note on Tuesday, February 13th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $100.57.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The company’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. analysts predict that Analog Devices, Inc. will post 5.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Analog Devices’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, March 8th. Analog Devices’s dividend payout ratio (DPR) is 91.87%.
In other news, SVP Margaret K. Seif sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $88.83, for a total value of $621,810.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joseph Hassett sold 18,400 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $85.06, for a total value of $1,565,104.00. Following the completion of the transaction, the senior vice president now owns 30,139 shares in the company, valued at $2,563,623.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,618 shares of company stock worth $7,554,228. Company insiders own 0.70% of the company’s stock.
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Analog Devices Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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