USS Investment Management Ltd Has $23.18 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

USS Investment Management Ltd lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,042 shares of the semiconductor company’s stock after selling 6,880 shares during the period. USS Investment Management Ltd’s holdings in Analog Devices were worth $23,175,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADI. Vanguard Group Inc. grew its stake in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after buying an additional 413,084 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock worth $2,248,971,000 after purchasing an additional 247,737 shares during the period. Norges Bank bought a new stake in Analog Devices during the 4th quarter valued at approximately $1,755,958,000. FMR LLC increased its position in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after buying an additional 61,390 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock worth $1,173,026,000 after buying an additional 427,328 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $224.54 on Tuesday. The firm has a fifty day simple moving average of $196.94 and a two-hundred day simple moving average of $210.32. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a market capitalization of $111.37 billion, a PE ratio of 71.51, a P/E/G 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) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during 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 for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. Research analysts expect 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 authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42% 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. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADI shares. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Wells Fargo & Company increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Truist Financial lifted their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.20.

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.