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

Polar Capital Holdings Plc increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 16.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 103,517 shares of the semiconductor company’s stock after purchasing an additional 14,350 shares during the period. Polar Capital Holdings Plc’s holdings in Analog Devices were worth $21,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in Analog Devices in the 4th quarter valued at $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the 4th quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its holdings 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 valued at $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners bought a new position in Analog Devices in the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the 4th quarter valued at $41,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% 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. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $227.12 on Friday. The stock has a market cap of $112.65 billion, a PE ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98. The company’s fifty day moving average is $196.22 and its 200 day moving average is $210.61. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. 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) last issued 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. The company 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 firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. Research analysts anticipate 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 authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Wells Fargo & Company raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Citigroup lowered their price objective on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $250.20.

Analog Devices 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.