Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,546 shares of the semiconductor company’s stock after purchasing an additional 75 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Analog Devices were worth $9,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Hawaii boosted its position in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of Analog Devices by 2.8% in the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares in the last quarter. NTV Asset Management LLC boosted its position in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares in the last quarter. West Oak Capital LLC boosted its position in shares of Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 55 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Analog Devices by 0.8% in the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock worth $1,568,000 after buying an additional 57 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ADI shares. Wells Fargo & Company boosted 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, February 20th. Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 0.7 %

NASDAQ ADI opened at $233.73 on Thursday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a 50-day moving average of $216.87 and a 200-day moving average of $220.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $115.92 billion, a P/E ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm 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 16.75% and a return on equity of 8.91%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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 given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its board has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.