Louisiana State Employees Retirement System Has $13.36 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Louisiana State Employees Retirement System lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,900 shares of the semiconductor company’s stock after selling 2,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Analog Devices were worth $13,364,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC bought a new position in Analog Devices during the 3rd quarter worth approximately $48,000. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ADI. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial lifted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Performance

Shares of ADI opened at $203.46 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 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 $244.14. The firm has a fifty day simple moving average of $214.84 and a 200 day simple moving average of $220.14. The stock has a market capitalization of $100.94 billion, a price-to-earnings ratio of 61.84, a PEG ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 EPS. Research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

About Analog Devices

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.