Zurich Insurance Group Ltd FI Has $32.07 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Zurich Insurance Group Ltd FI lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 43.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 150,958 shares of the semiconductor company’s stock after selling 113,699 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Analog Devices were worth $32,073,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Broderick Brian C boosted its holdings in 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 purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP bought a new stake in Analog Devices in the 4th quarter valued at about $10,212,000. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $460,000. Synergy Asset Management LLC lifted its holdings in shares of Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after acquiring an additional 2,554 shares during the period. Finally, RFG Advisory LLC lifted its holdings in shares of Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 1.1%

Shares of NASDAQ ADI opened at $224.54 on Tuesday. 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 52-week low of $158.65 and a 52-week high of $247.10. The firm has a 50 day moving average price of $196.94 and a two-hundred day moving average price of $210.32. The stock has a market cap of $111.37 billion, a P/E ratio of 71.51, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

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

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADI shares. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Stifel Nicolaus cut their price target on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Citigroup upped their price target on shares of Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $251.20.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the 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 sale, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 over the last three months. 0.33% of the stock is owned by company insiders.

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.