Kentucky Retirement Systems Insurance Trust Fund Has $3.38 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,692 shares of the semiconductor company’s stock after selling 1,303 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Analog Devices were worth $3,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Capital International Investors boosted its position in shares of Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares during the period. Van ECK Associates Corp grew its holdings in shares of Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after buying an additional 700,862 shares in the last quarter. American Century Companies Inc. raised its position in Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Analog Devices by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after acquiring an additional 211,202 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

ADI opened at $206.35 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $102.45 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The business has a fifty day simple moving average of $225.88 and a 200 day simple moving average of $224.95. Analog Devices, Inc. has a 1 year low of $178.66 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 1.78%. Analog Devices’s payout ratio is 110.51%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock worth $25,229,958. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ADI shares. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.