EDENTREE ASSET MANAGEMENT Ltd Has $7.03 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

EDENTREE ASSET MANAGEMENT Ltd decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,065 shares of the semiconductor company’s stock after selling 14,451 shares during the period. Analog Devices comprises about 2.0% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 23rd largest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Analog Devices were worth $7,025,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Broderick Brian C increased its holdings in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after buying an additional 2,017 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $10,212,000. Curbstone Financial Management Corp acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $460,000. Synergy Asset Management LLC increased its holdings in shares of Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after buying an additional 2,554 shares in the last quarter. Finally, RFG Advisory LLC increased its holdings in shares of Analog Devices by 3.9% during the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley set a $214.00 price target on shares of Analog Devices in a report on Monday, April 21st. 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. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $252.35.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices 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 transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

ADI opened at $222.22 on Thursday. The company has a fifty day moving average price of $197.63 and a two-hundred day moving average price of $210.50. 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 market capitalization of $110.22 billion, a PE ratio of 70.77, a P/E/G ratio of 2.85 and a beta of 0.98.

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, 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 business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

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.