Kentucky Retirement Systems Sells 286 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,370 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Kentucky Retirement Systems’ holdings in Analog Devices were worth $8,530,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Point72 Italy S.r.l. purchased a new position in Analog Devices during the 4th quarter worth $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Analog Devices in the fourth quarter valued at about $850,000. Capital International Investors lifted its stake in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC increased its position in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after purchasing an additional 10,106 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group increased their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Barclays upped their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $251.45.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by company insiders.

Analog Devices Trading Down 1.2 %

NASDAQ ADI opened at $222.64 on Thursday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a fifty day simple moving average of $224.04 and a two-hundred day simple moving average of $215.73. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $110.48 billion, a P/E ratio of 52.02, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the business posted $2.49 EPS. On average, analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.65%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.