Royal Bank of Canada Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Royal Bank of Canada raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,529,223 shares of the semiconductor company's stock after acquiring an additional 395,969 shares during the quarter. Royal Bank of Canada owned about 0.51% of Analog Devices worth $537,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Trading Down 0.0%

Shares of ADI stock traded down $0.05 on Tuesday, hitting $224.49. 2,619,082 shares of the company's stock traded hands, compared to its average volume of 3,519,481. 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 one year low of $158.65 and a one year high of $247.10. The company's fifty day simple moving average is $196.94 and its 200 day simple moving average is $210.32. The stock has a market capitalization of $111.34 billion, a price-to-earnings ratio of 71.49, a P/E/G ratio of 2.85 and a beta of 0.98.

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, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on ADI. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. UBS Group lowered their target price on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Oppenheimer upped their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.35.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction 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 sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction 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 trade represents a 6.54% 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 in the last quarter. Insiders own 0.33% of the company's stock.

About Analog Devices

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.