California Public Employees Retirement System Purchases 315,712 Shares of Analog Devices, Inc. (NASDAQ:ADI)

California Public Employees Retirement System increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 19.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,926,587 shares of the semiconductor company’s stock after buying an additional 315,712 shares during the period. California Public Employees Retirement System owned about 0.39% of Analog Devices worth $382,543,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after buying an additional 930,732 shares in the last quarter. Alecta Tjanstepension Omsesidigt raised its position in shares of Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after buying an additional 775,000 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research report on Thursday, January 4th. Oppenheimer restated an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Barclays upped their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Evercore ISI initiated coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Activity

In other news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.6 %

ADI stock traded up $2.95 during mid-day trading on Monday, reaching $186.31. The company had a trading volume of 3,557,438 shares, compared to its average volume of 3,347,768. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company has a market capitalization of $92.39 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 4.60 and a beta of 1.17. The firm has a 50 day moving average of $192.82 and a 200 day moving average of $186.72. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $2.75 EPS. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

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.