Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,931 shares of the semiconductor company’s stock after selling 126 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Analog Devices were worth $38,228,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADI. Creative Planning increased its position in shares of Analog Devices by 4.7% during the third quarter. Creative Planning now owns 116,826 shares of the semiconductor company’s stock valued at $26,890,000 after acquiring an additional 5,269 shares during the last quarter. Swedbank AB boosted its stake in shares of Analog Devices by 6.7% in the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the period. Stratos Wealth Advisors LLC boosted its stake in shares of Analog Devices by 8.8% in the third quarter. Stratos Wealth Advisors LLC now owns 5,511 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 444 shares during the period. Moss Adams Wealth Advisors LLC boosted its stake in shares of Analog Devices by 13.3% in the third quarter. Moss Adams Wealth Advisors LLC now owns 1,189 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 140 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Analog Devices by 55.7% in the third quarter. Blue Trust Inc. now owns 4,819 shares of the semiconductor company’s stock valued at $1,100,000 after purchasing an additional 1,723 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 2.5 %

Shares of NASDAQ:ADI opened at $214.61 on Monday. The company has a market capitalization of $106.47 billion, a PE ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The firm has a 50 day simple moving average of $214.04 and a 200-day simple moving average of $219.68.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 EPS. On average, equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Benchmark initiated coverage on shares of Analog Devices in a research note on Friday. They issued a “buy” rating and a $245.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $248.52.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

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.