State Board of Administration of Florida Retirement System Buys 5,478 Shares of Analog Devices, Inc. (ADI)

State Board of Administration of Florida Retirement System increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,371 shares of the semiconductor company’s stock after buying an additional 5,478 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of Analog Devices worth $38,695,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ADI. Lazard Asset Management LLC bought a new position in Analog Devices during the first quarter worth approximately $100,000. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter worth approximately $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter worth approximately $114,000. Guardian Life Insurance Co. of America raised its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Analog Devices, Inc. (NASDAQ:ADI) opened at 77.70 on Tuesday. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 29.76 and a beta of 1.30. The stock has a 50 day moving average price of $79.05 and a 200 day moving average price of $79.90. Analog Devices, Inc. has a 52-week low of $59.01 and a 52-week high of $90.49.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.18. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. UBS AG reiterated a “neutral” rating and issued a $94.00 price target (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. B. Riley reiterated a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $92.00 price target on shares of Analog Devices in a research note on Friday, August 4th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 price target (up previously from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.92.

In related news, Director Bruce R. Evans bought 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was acquired at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total transaction of $240,840.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The disclosure for this sale can be found here. Insiders have sold 58,086 shares of company stock valued at $4,957,894 in the last three months. 1.10% of the stock is owned by insiders.

About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.