Worldquant Millennium Advisors LLC Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Worldquant Millennium Advisors LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 810.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 437,061 shares of the semiconductor company's stock after buying an additional 389,074 shares during the period. Worldquant Millennium Advisors LLC owned about 0.09% of Analog Devices worth $92,858,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Merit Financial Group LLC increased its stake in shares of Analog Devices by 40.2% in the 4th quarter. Merit Financial Group LLC now owns 5,776 shares of the semiconductor company's stock worth $1,227,000 after purchasing an additional 1,656 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its stake in shares of Analog Devices by 5.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 2,557 shares of the semiconductor company's stock worth $543,000 after purchasing an additional 134 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Analog Devices by 11.4% in the 4th quarter. HB Wealth Management LLC now owns 10,875 shares of the semiconductor company's stock worth $2,311,000 after purchasing an additional 1,112 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of Analog Devices by 17.7% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,711 shares of the semiconductor company's stock worth $788,000 after purchasing an additional 557 shares in the last quarter. Finally, Clarius Group LLC increased its stake in shares of Analog Devices by 10.0% in the 4th quarter. Clarius Group LLC now owns 2,708 shares of the semiconductor company's stock worth $575,000 after purchasing an additional 247 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 1.1%

ADI opened at $224.54 on Tuesday. The firm has a 50-day simple moving average of $196.94 and a two-hundred day simple moving average of $210.32. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a market capitalization of $111.37 billion, a PE ratio of 71.51, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Oppenheimer upped their price objective on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday. Cantor Fitzgerald upped their price objective on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial upped their target price 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. Finally, Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $251.20.

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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