California State Teachers Retirement System Sells 13,611 Shares of Analog Devices, Inc. (NASDAQ:ADI)

California State Teachers Retirement System trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 876,879 shares of the semiconductor company’s stock after selling 13,611 shares during the quarter. California State Teachers Retirement System’s holdings in Analog Devices were worth $122,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 0.3% during the third quarter. Vanguard Group Inc. now owns 45,878,473 shares of the semiconductor company’s stock worth $6,392,707,000 after purchasing an additional 138,980 shares during the period. BlackRock Inc. increased its position in shares of Analog Devices by 5.2% in the third quarter. BlackRock Inc. now owns 42,266,420 shares of the semiconductor company’s stock valued at $5,889,403,000 after buying an additional 2,076,636 shares in the last quarter. State Street Corp increased its position in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 20,256,986 shares of the semiconductor company’s stock valued at $2,822,608,000 after buying an additional 92,672 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 370.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,943,607 shares of the semiconductor company’s stock worth $722,212,000 after purchasing an additional 3,893,057 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Analog Devices by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 4,547,753 shares of the semiconductor company’s stock worth $633,683,000 after purchasing an additional 15,624 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Barclays upped their target price on Analog Devices from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Sanford C. Bernstein upped their target price on Analog Devices from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Citigroup upped their target price on Analog Devices from $195.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 17th. Oppenheimer upped their price target on Analog Devices from $210.00 to $230.00 in a research note on Thursday, February 16th. Finally, UBS Group upped their price target on Analog Devices from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $213.68.

Analog Devices Trading Down 2.0 %

ADI opened at $182.93 on Thursday. Analog Devices, Inc. has a one year low of $133.48 and a one year high of $196.41. The company has a market cap of $92.54 billion, a P/E ratio of 27.59, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.50 and a current ratio of 2.12. The business’s 50-day simple moving average is $177.76 and its 200-day simple moving average is $162.62.

Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.15. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.15 billion. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 10.6 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Investors of record on Monday, February 27th were issued a dividend of $0.86 per share. The ex-dividend date was Friday, February 24th. This is a boost from Analog Devices’s previous quarterly dividend of $0.76. This represents a $3.44 annualized dividend and a yield of 1.88%. Analog Devices’s payout ratio is currently 51.89%.

Insider Buying and Selling

In other Analog Devices news, Director Tunc Doluca sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $194.34, for a total transaction of $1,166,040.00. Following the completion of the transaction, the director now owns 61,157 shares of the company’s stock, valued at $11,885,251.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Edward H. Frank sold 5,000 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $193.09, for a total value of $965,450.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $579,270. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tunc Doluca sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $194.34, for a total value of $1,166,040.00. Following the transaction, the director now directly owns 61,157 shares of the company’s stock, valued at $11,885,251.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,195 shares of company stock valued at $2,697,723. 0.46% of the stock is owned by insiders.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.