Union Bancaire Privee UBP SA Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Union Bancaire Privee UBP SA lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,587 shares of the semiconductor company's stock after buying an additional 1,638 shares during the period. Union Bancaire Privee UBP SA's holdings in Analog Devices were worth $1,919,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new position in Analog Devices during the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new position in Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the 4th quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,934 shares of company stock worth $6,643,956. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADI. Benchmark reaffirmed a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their target price on shares of Analog Devices from $205.00 to $235.00 and gave the company an "equal weight" rating in a report on Monday. Oppenheimer lifted their target price on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Morgan Stanley lowered their target price on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $250.50.

Analog Devices Price Performance

ADI traded up $6.77 during midday trading on Monday, reaching $231.80. 3,344,116 shares of the company's stock were exchanged, compared to its average volume of 3,576,066. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market capitalization of $115.03 billion, a PE ratio of 73.82, a P/E/G ratio of 2.85 and a beta of 1.00. The business's 50-day moving average price is $206.26 and its 200 day moving average price is $210.80. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Analog Devices Profile

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.