Worldquant Millennium Advisors LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Worldquant Millennium Advisors LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 810.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 437,061 shares of the semiconductor company’s stock after purchasing an additional 389,074 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Analog Devices were worth $92,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,755,958,000. FMR LLC boosted its stake in shares of Analog Devices by 0.8% during the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock valued at $1,582,831,000 after purchasing an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp boosted its stake 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 valued at $1,173,026,000 after purchasing an additional 427,328 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’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 directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42% 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 90 days. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 1.1%

NASDAQ ADI opened at $224.54 on Tuesday. The company has a fifty day simple moving average of $196.94 and a two-hundred day simple moving average of $210.32. The stock has a market cap of $111.37 billion, a P/E ratio of 71.51, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. Citigroup increased their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer increased their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised 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. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $251.20.

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.