230,000 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 230,000 shares of the semiconductor company's stock, valued at approximately $48,866,000.

Other large investors have also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth $27,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the 4th quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% during the 4th 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, Financial Life Planners bought a new stake in Analog Devices during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

NASDAQ:ADI traded down $2.31 during trading on Friday, reaching $213.44. The company's stock had a trading volume of 1,736,890 shares, compared to its average volume of 3,526,382. The firm has a market cap of $105.92 billion, a price-to-earnings ratio of 67.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The firm has a 50 day moving average of $198.18 and a 200-day moving average of $210.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 22.3% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.86%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the business'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 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 a total of 42,934 shares of company stock valued at $8,735,156 over the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADI shares. Benchmark reaffirmed a "buy" rating and set a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. KGI Securities started coverage on Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating for the company. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Evercore ISI upped their price target on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Maxim Group assumed coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $248.63.

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.