New Mexico Educational Retirement Board Sells 600 Shares of Analog Devices, Inc. (NASDAQ:ADI)

New Mexico Educational Retirement Board cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,686 shares of the semiconductor company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Analog Devices were worth $5,032,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after buying an additional 106,664 shares during the period. Geode Capital Management LLC increased its stake in shares of Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares during the period. Franklin Resources Inc. increased its stake in shares of Analog Devices by 14.9% in the third 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. FMR LLC increased its stake in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after buying an additional 226,716 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $214.61 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a market capitalization of $106.47 billion, a PE ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. The company has a fifty day moving average of $214.11 and a two-hundred day moving average of $219.80.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating 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 business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts expect 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. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Truist Financial lifted 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. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $248.52.

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.