Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,042 shares of the semiconductor company's stock after selling 6,880 shares during the period. USS Investment Management Ltd's holdings in Analog Devices were worth $23,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Midwest Professional Planners LTD. grew its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC boosted its position in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after buying an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC increased its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the period. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in Analog Devices by 4.8% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,333 shares of the semiconductor company's stock valued at $283,000 after buying an additional 61 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $224.54 on Tuesday. The stock has a market capitalization of $111.37 billion, a P/E ratio of 71.51, a PEG ratio of 2.85 and a beta of 0.98. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business's fifty day moving average price is $196.94 and its 200 day moving average price is $210.32. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday. Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. UBS Group cut their target price on Analog Devices from $300.00 to $295.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $251.20.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last 90 days. Company insiders own 0.33% of the company's stock.

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.

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