Public Sector Pension Investment Board Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Public Sector Pension Investment Board raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,612 shares of the semiconductor company’s stock after buying an additional 2,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Analog Devices were worth $4,974,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADI. Cetera Advisors LLC grew its position in Analog Devices by 59.5% in the 1st quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after purchasing an additional 4,850 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Analog Devices by 85.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,447 shares of the semiconductor company’s stock valued at $330,000 after acquiring an additional 666 shares during the last quarter. City State Bank lifted its holdings in Analog Devices by 30.7% in the second quarter. City State Bank now owns 682 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 160 shares during the period. Mather Group LLC. boosted its position in Analog Devices by 19.7% in the second quarter. Mather Group LLC. now owns 4,160 shares of the semiconductor company’s stock worth $950,000 after purchasing an additional 685 shares during the last quarter. Finally, Fragasso Financial Advisors Inc grew its stake in shares of Analog Devices by 6.9% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,110 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 72 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial cut their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.33.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,000 shares of company stock valued at $24,883,200. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $218.05 on Monday. The company has a market cap of $108.22 billion, a P/E ratio of 66.28, a P/E/G ratio of 3.36 and a beta of 1.08. The business’s 50 day moving average price is $224.14 and its 200-day moving average price is $226.03. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.84.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

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.