Teacher Retirement System of Texas Acquires 196,878 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Teacher Retirement System of Texas grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 696.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,144 shares of the semiconductor company’s stock after acquiring an additional 196,878 shares during the period. Teacher Retirement System of Texas’ holdings in Analog Devices were worth $47,834,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Royal London Asset Management Ltd. raised its position in shares of Analog Devices by 94.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 494,013 shares of the semiconductor company’s stock valued at $104,958,000 after purchasing an additional 240,137 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Analog Devices by 27.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 29,208 shares of the semiconductor company’s stock valued at $5,783,000 after purchasing an additional 6,338 shares during the period. Vinva Investment Management Ltd raised its position in shares of Analog Devices by 55.9% during the 4th quarter. Vinva Investment Management Ltd now owns 20,992 shares of the semiconductor company’s stock valued at $4,462,000 after purchasing an additional 7,529 shares during the period. Stokes Family Office LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at $355,000. Finally, Xponance Inc. raised its position in shares of Analog Devices by 1.2% during the 4th quarter. Xponance Inc. now owns 74,698 shares of the semiconductor company’s stock valued at $15,870,000 after purchasing an additional 875 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is currently owned by insiders.

Analog Devices Price Performance

Analog Devices stock opened at $205.90 on Friday. The firm has a 50-day moving average price of $217.33 and a 200-day moving average price of $220.05. The firm has a market capitalization of $102.12 billion, a PE ratio of 65.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley raised their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six investment 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 company has an average rating of “Moderate Buy” and an average target price of $255.41.

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.