UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 668,023 Shares of Analog Devices, Inc. (NASDAQ:ADI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,333,615 shares of the semiconductor company’s stock after buying an additional 668,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.67% of Analog Devices worth $708,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its stake in shares of 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 acquired a new position in Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

ADI stock opened at $224.49 on Wednesday. The firm has a market cap of $111.34 billion, a PE ratio of 71.49, 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. The business has a 50 day moving average of $197.36 and a 200-day moving average of $210.42. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer upped their price target on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Citigroup upped their price target on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.35.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 over the last three months. Corporate 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.