Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,015 shares of the semiconductor company’s stock after selling 3,677 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Analog Devices were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $28,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 2.5 %

Shares of NASDAQ:ADI opened at $214.61 on Tuesday. The company has a market cap of $106.47 billion, a price-to-earnings ratio of 65.23, a PEG ratio of 2.38 and a beta of 1.04. The firm’s 50-day simple moving average is $214.04 and its 200-day simple moving average is $219.59. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate 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 last year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced 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. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADI shares. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley dropped their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Benchmark started coverage on shares of Analog Devices in a research note on Friday. They issued a “buy” rating and a $245.00 price target on the stock. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.52.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

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.