California Public Employees Retirement System Sells 36,155 Shares of Analog Devices, Inc. (NASDAQ:ADI)

California Public Employees Retirement System cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,574,253 shares of the semiconductor company’s stock after selling 36,155 shares during the quarter. California Public Employees Retirement System’s holdings in Analog Devices were worth $334,466,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $460,000. Czech National Bank boosted its holdings in shares of Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after buying an additional 6,566 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after buying an additional 2,554 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Analog Devices in the 3rd quarter worth about $20,194,000. Finally, RFG Advisory LLC lifted its position in Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock valued at $440,000 after acquiring an additional 77 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Friday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market capitalization of $99.97 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock’s 50-day simple moving average is $216.51 and its two-hundred day simple moving average is $219.53.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,684 shares of company stock valued at $7,746,500. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Williams Trading set a $245.00 target price on shares of Analog Devices in a research note on Friday, February 14th. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Finally, UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.41.

About Analog Devices

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.