State of Tennessee Treasury Department reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,992 shares of the semiconductor company’s stock after selling 51,150 shares during the quarter. State of Tennessee Treasury Department’s holdings in Analog Devices were worth $10,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wealth Quarterback LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at about $3,265,410,000. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter valued at about $463,695,000. BlackRock Inc. increased its stake in shares of Analog Devices by 14.7% in the 1st quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after acquiring an additional 3,571,383 shares during the last quarter. Invesco Ltd. increased its stake in shares of Analog Devices by 39.1% in the 1st quarter. Invesco Ltd. now owns 4,322,089 shares of the semiconductor company’s stock valued at $387,476,000 after acquiring an additional 1,215,616 shares during the last quarter. Finally, Melvin Capital Management LP bought a new stake in shares of Analog Devices in the 1st quarter valued at about $94,133,000. 85.44% of the stock is owned by hedge funds and other institutional investors.

In other news, Director James Champy sold 2,155 shares of Analog Devices stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $113.61, for a total transaction of $244,829.55. Following the sale, the director now directly owns 12,415 shares of the company’s stock, valued at $1,410,468.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 8,460 shares of Analog Devices stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $113.42, for a total value of $959,533.20. Following the sale, the director now directly owns 19,775 shares in the company, valued at $2,242,880.50. The disclosure for this sale can be found here. Insiders sold 17,556 shares of company stock worth $2,001,570 over the last ninety days. 0.42% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on ADI shares. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Sanford C. Bernstein reduced their price target on Analog Devices from $115.00 to $90.00 and set a “market perform” rating for the company in a research report on Thursday, March 19th. Morgan Stanley upped their price target on Analog Devices from $101.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 16th. Royal Bank of Canada reduced their price target on Analog Devices from $136.00 to $122.00 in a research report on Tuesday, May 19th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $130.00 price objective on shares of Analog Devices in a report on Thursday, May 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. Analog Devices currently has an average rating of “Buy” and a consensus target price of $123.23.

ADI traded down $2.64 during trading hours on Friday, reaching $117.46. The company’s stock had a trading volume of 312,639 shares, compared to its average volume of 2,472,759. Analog Devices, Inc. has a 52 week low of $79.07 and a 52 week high of $127.39. The company’s 50-day moving average is $114.58 and its 200-day moving average is $110.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a market cap of $44.02 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.35.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 4.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Friday, May 29th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, May 28th. Analog Devices’s dividend payout ratio (DPR) is presently 48.16%.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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