Retirement Systems of Alabama Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Retirement Systems of Alabama lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,608 shares of the semiconductor company’s stock after selling 887 shares during the period. Retirement Systems of Alabama’s holdings in Analog Devices were worth $21,500,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its position in shares of 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 buying an additional 55 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ADI has been the subject of several analyst reports. Williams Trading set a $260.00 target price on Analog Devices in a research report on Friday, May 23rd. Citigroup upped their target price on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Seaport Res Ptn raised Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Oppenheimer boosted their price target on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, UBS Group cut their price target on Analog Devices from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $251.75.

Analog Devices Trading Down 0.6%

Shares of NASDAQ ADI opened at $228.35 on Friday. The stock’s 50 day moving average price is $209.55 and its two-hundred day moving average price is $211.09. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a market capitalization of $113.32 billion, a P/E ratio of 62.22, a PEG ratio of 2.11 and a beta of 1.00. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

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.