Kentucky Retirement Systems Sells 2,081 Shares of Analog Devices, Inc. $ADI

Kentucky Retirement Systems cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,760 shares of the semiconductor company’s stock after selling 2,081 shares during the period. Kentucky Retirement Systems’ holdings in Analog Devices were worth $7,560,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Howard Hughes Medical Institute bought a new position in Analog Devices during the second quarter valued at about $25,000. RMG Wealth Management LLC purchased a new position in Analog Devices in the second quarter valued at approximately $26,000. Activest Wealth Management grew its holdings in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Access Investment Management LLC purchased a new position in shares of Analog Devices during the 2nd quarter valued at $45,000. Finally, Saudi Central Bank bought a new position in shares of Analog Devices during the 1st quarter worth $39,000. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. Bank of America increased their target price on shares of Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Piper Sandler set a $290.00 target price on Analog Devices in a research report on Tuesday, November 25th. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group boosted their price objective on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, KeyCorp raised their target price on Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $283.61.

Analog Devices Stock Performance

NASDAQ:ADI opened at $279.32 on Friday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $284.23. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The stock has a market cap of $136.77 billion, a P/E ratio of 61.25, a PEG ratio of 1.55 and a beta of 1.04. The business’s 50-day moving average price is $246.14 and its two-hundred day moving average price is $240.29.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm posted $1.67 earnings per share. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s payout ratio is 86.84%.

Insider Transactions at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,419 shares of company stock worth $8,791,598 in the last three months. Insiders own 0.33% of the company’s stock.

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.