Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Oregon Public Employees Retirement Fund

by · The Cerbat Gem

Oregon Public Employees Retirement Fund raised its position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,546 shares of the semiconductor company’s stock after acquiring an additional 75 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Analog Devices were worth $9,039,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the 3rd quarter valued at approximately $28,000. Archer Investment Corp boosted 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 valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $33,000. Kestra Investment Management LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ADI. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

View Our Latest Stock Analysis on Analog Devices

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $233.73 on Thursday. 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 has a market capitalization of $115.92 billion, a price-to-earnings ratio of 74.44, a PEG ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock’s fifty day moving average is $216.87 and its two-hundred day moving average is $220.90.

Analog Devices (NASDAQ:ADI – Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Analog Devices

(Free Report)

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.

See Also

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