The Tennessee Department of Treasury has a $27.62 million position in Analog Devices, Inc. (NASDAQ:ADI)

The Tennessee Department of Treasury has increased its stake in Analog Devices, Inc., according to a recent filing with the SEC. (NASDAQ:ADI – Free Report) up 16.4% in the fourth quarter. The fund owned 139,077 shares of the semiconductor company after purchasing an additional 19,551 shares during the quarter. At the end of the most recent reporting period, the value of the Tennessee Treasury’s interest in Analog Devices was $27,615,000.

Several other institutional investors also recently increased or decreased their stakes in the company. In the fourth quarter, Pinnacle Bancorp Inc. increased its position in Analog Devices shares by 101.6%. After purchasing an additional 65 shares during this period, Pinnacle Bancorp Inc. currently owns 129 shares of the semiconductor company’s stock worth $26,000. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. After purchasing an additional 65 shares during the period, USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices during the third quarter worth approximately $29,000. Cetera Trust Company NA bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. 86.81% of the shares are in the hands of institutional investors.

Insiders place their bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the CEO now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a filing with the Securities and Exchange Commission, available at this link. Additionally, Director James Champy sold 4,200 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55 for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The announcement of this sale can be found here. Over the last 90 days, insiders have sold a total of 33,737 shares of company stock worth $6,998,205. Corporate insiders own 0.31% of the company’s shares.

Price performance of analog devices

Analog Devices shares closed at $235.37 on Tuesday. The stock’s fifty-day moving average price is $209.36 and its two-hundred-day moving average price is $198.08. Analog Devices, Inc. it has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a debt to equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $116.80 billion, a PE ratio of 54.99, a price-to-earnings growth ratio of 3.98 and a beta of 1.12.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported earnings per share (EPS) of $1.40 for the quarter, $0.14 above the consensus estimate of $1.26. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company saw an EPS of $2.83. The company’s revenue for this quarter decreased by 33.8% compared to the same quarter last year. Analysts expect that as a group, Analog Devices, Inc. will report an EPS of 6.22 for the current financial year.

Analog Devices announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Stockholders of record on Tuesday, June 4 will receive a dividend of $0.92. The ex-dividend date of this dividend is Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a yield of 1.56%. Analog Devices’ payout ratio is currently 85.98%.

Analysts set new price targets

A number of brokerage houses have expressed their views on ADI. On Thursday, May 23, Needham & Company LLC maintained a “hold” rating on shares of Analog Devices. Goldman Sachs Group increased their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. KeyCorp upped their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer raised their price target on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Cantor Fitzgerald raised their price target on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Seven equity analysts have rated the company with a hold rating and eighteen have given the company a buy rating. Analog Devices has a consensus rating of “Buy” and an average price target of $243.23, according to MarketBeat.

Check out our latest analog stock analysis

Analog device profile

(free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

See also

Want to see what other hedge funds hold ADI? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Analog Devices, Inc. (NASDAQ:ADI – Free Report).

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