Sherbrooke Park Advisers LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Sherbrooke Park Advisers LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,024 shares of the semiconductor company's stock, valued at approximately $642,000.

Other institutional investors have also recently bought and sold shares of the company. Broderick Brian C grew its stake in shares of Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after buying an additional 2,017 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Analog Devices in the 4th quarter worth approximately $10,212,000. Curbstone Financial Management Corp acquired a new stake in Analog Devices in the 4th quarter worth approximately $460,000. Synergy Asset Management LLC lifted its holdings in Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after purchasing an additional 2,554 shares during the last quarter. Finally, RFG Advisory LLC lifted its holdings in Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded down $0.05 during trading hours on Tuesday, reaching $224.49. The company had a trading volume of 2,619,082 shares, compared to its average volume of 3,519,481. The stock has a 50-day moving average of $196.94 and a two-hundred day moving average of $210.32. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market capitalization of $111.34 billion, a PE ratio of 71.49, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ADI. Benchmark boosted 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 target price on Analog Devices in a report on Monday, April 21st. UBS Group reduced their target price on Analog Devices from $300.00 to $295.00 and set a "buy" rating for the company in a report on Monday, May 12th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Finally, Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. One equities 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.