Polar Capital Holdings Plc Buys 14,350 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Polar Capital Holdings Plc increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,517 shares of the semiconductor company's stock after acquiring an additional 14,350 shares during the quarter. Polar Capital Holdings Plc's holdings in Analog Devices were worth $21,993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Brookstone Capital Management increased its stake in shares of Analog Devices by 21.9% in the 4th quarter. Brookstone Capital Management now owns 1,889 shares of the semiconductor company's stock valued at $401,000 after acquiring an additional 340 shares during the last quarter. Capital Investment Advisors LLC increased its stake in Analog Devices by 7.6% during the 4th quarter. Capital Investment Advisors LLC now owns 1,020 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 72 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in Analog Devices by 2.8% during the 4th quarter. Miracle Mile Advisors LLC now owns 3,697 shares of the semiconductor company's stock worth $785,000 after purchasing an additional 102 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Analog Devices by 6.4% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,536 shares of the semiconductor company's stock worth $326,000 after purchasing an additional 92 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in Analog Devices during the 4th quarter worth approximately $281,000. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the 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 completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, May 1st. The stock was 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 owns 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Up 0.9%

ADI stock traded up $2.05 during trading on Wednesday, hitting $226.54. The company had a trading volume of 1,742,408 shares, compared to its average volume of 3,512,669. 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 has a market capitalization of $112.36 billion, a P/E ratio of 72.18, a PEG ratio of 2.85 and a beta of 0.98. The company has a 50 day simple moving average of $197.36 and a 200-day simple moving average of $210.42. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.36 billion. During the same period last year, the business earned $1.73 EPS. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ADI shares. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $252.35.

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.