Treasurer of the State of North Carolina Has $55.49 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Treasurer of the State of North Carolina raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,169 shares of the semiconductor company’s stock after purchasing an additional 1,964 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Analog Devices were worth $55,488,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Analog Devices by 16.6% during the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company’s stock valued at $9,978,000 after acquiring an additional 6,164 shares during the last quarter. Vestcor Inc grew its position in Analog Devices by 4.4% during the third quarter. Vestcor Inc now owns 9,762 shares of the semiconductor company’s stock valued at $2,247,000 after buying an additional 408 shares during the period. Brophy Wealth Management LLC bought a new position in shares of Analog Devices during the 3rd quarter worth $276,000. Toronto Dominion Bank boosted its position in Analog Devices by 47.9% during the third quarter. Toronto Dominion Bank now owns 273,736 shares of the semiconductor company’s stock worth $63,006,000 after purchasing an additional 88,592 shares during the period. Finally, Fortem Financial Group LLC lifted its position in shares of Analog Devices by 39.3% during the third quarter. Fortem Financial Group LLC now owns 6,281 shares of the semiconductor company’s stock worth $1,446,000 after acquiring an additional 1,771 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock valued at $5,591,600 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 18.4 %

Analog Devices stock opened at $196.63 on Thursday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a market capitalization of $97.52 billion, a PE ratio of 62.62, a PEG ratio of 2.85 and a beta of 1.06. The firm’s fifty day moving average is $209.97 and its 200 day moving average is $216.71. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

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

Analog Devices declared that its board has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board 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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Company 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.