State of Alaska Department of Revenue Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

State of Alaska Department of Revenue lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 56,612 shares of the semiconductor company’s stock after selling 1,035 shares during the period. State of Alaska Department of Revenue’s holdings in Analog Devices were worth $12,027,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC lifted 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 acquiring an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 valued at $220,891,000 after acquiring an additional 853,931 shares during the period. Finally, Holocene Advisors LP grew its position in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADI shares. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Truist Financial upped their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $207.83 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market cap of $103.11 billion, a P/E ratio of 63.17, a P/E/G ratio of 2.43 and a beta of 1.04. The stock has a 50 day moving average of $215.65 and a two-hundred day moving average of $220.68. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. Analog Devices’s payout ratio is 111.85%.

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.