Strs Ohio Has $66.33 Million Holdings in Analog Devices, Inc. $ADI

Strs Ohio increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the third quarter, HoldingsChannel.com reports. The fund owned 269,956 shares of the semiconductor company’s stock after purchasing an additional 17,086 shares during the period. Strs Ohio’s holdings in Analog Devices were worth $66,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Howard Hughes Medical Institute bought a new position in shares of Analog Devices in the second quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new position in shares of Analog Devices in the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new stake in shares of Analog Devices during the third quarter worth $31,000. Sound Income Strategies LLC increased its position in Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 95 shares in the last quarter. Finally, Access Investment Management LLC bought a new position in shares of Analog Devices in the second quarter worth about $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.2%

Shares of NASDAQ ADI opened at $308.52 on Friday. The stock has a market cap of $151.07 billion, a price-to-earnings ratio of 67.66, a P/E/G ratio of 1.65 and a beta of 1.03. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $313.19. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $274.55 and its 200-day moving average is $251.60.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $275.07, for a total value of $2,750,700.00. Following the sale, the chief executive officer owned 155,688 shares in the company, valued at approximately $42,825,098.16. The trade was a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $278.44, for a total value of $2,784,400.00. Following the transaction, the senior vice president directly owned 49,664 shares of the company’s stock, valued at approximately $13,828,444.16. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,544 shares of company stock valued at $14,328,561 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADI. Morgan Stanley reaffirmed an “overweight” rating and set a $314.00 price objective on shares of Analog Devices in a report on Friday, January 16th. Barclays set a $315.00 price objective on Analog Devices in a report on Thursday, January 15th. KeyCorp lifted their price target on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Evercore ISI cut their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a report on Tuesday, November 25th. Finally, BNP Paribas Exane initiated coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.