Arizona State Retirement System Has $30.46 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Arizona State Retirement System boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 143,389 shares of the semiconductor company’s stock after purchasing an additional 1,212 shares during the quarter. Arizona State Retirement System’s holdings in Analog Devices were worth $30,464,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter valued at approximately $28,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter valued at $30,000. Archer Investment Corp boosted its holdings in 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 acquiring an additional 73 shares during the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices in the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. UBS Group upped their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Down 1.0 %

ADI stock opened at $226.18 on Wednesday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The firm has a market capitalization of $112.18 billion, a PE ratio of 72.03, a PEG ratio of 2.85 and a beta of 1.04. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $217.98 and a two-hundred day simple moving average of $221.16.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. Analog Devices’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.