Note Advisors LLC Acquires Shares of 1,151 Analog Devices, Inc. (NASDAQ:ADI)

Note Advisors LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,151 shares of the semiconductor company's stock, valued at approximately $245,000.

A number of other large investors have also added to or reduced their stakes in ADI. Vanguard Group Inc. raised its stake in shares of Analog Devices by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC increased its position in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the period. Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter worth about $1,755,958,000. FMR LLC boosted its position in shares of Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after acquiring an additional 61,390 shares during the period. Finally, Northern Trust Corp grew its stake in Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after acquiring an additional 427,328 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $224.49 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $197.36 and its 200 day simple moving average is $210.42. The stock has a market cap of $111.34 billion, a P/E ratio of 71.49, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. 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 results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on ADI. Truist Financial upped their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Morgan Stanley set a $214.00 price target on Analog Devices in a research report on Monday, April 21st. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Finally, Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $252.35.

Insider Buying and Selling

In related 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 directly owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents 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 valued at $8,735,156 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Analog Devices Company 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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