Kentucky Retirement Systems Has $7.25 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,099 shares of the semiconductor company’s stock after selling 470 shares during the quarter. Kentucky Retirement Systems’ holdings in Analog Devices were worth $7,245,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADI. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. International Assets Investment Management LLC increased its stake in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Holocene Advisors LP raised its holdings in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after buying an additional 823,709 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after buying an additional 700,862 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of ADI stock opened at $243.82 on Friday. The company has a fifty day moving average price of $215.06 and a two-hundred day moving average price of $219.97. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market cap of $120.96 billion, a P/E ratio of 74.11, a P/E/G ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. Analog Devices’s payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADI. Wells Fargo & Company increased their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $255.19.

Analog Devices 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.