Latest Insider Selling: 5 Large-Cap Tech Stocks to Watch

4. Analog Devices Inc (NASDAQ:ADI)

Number of Hedge Fund Investors: 62

Massachusetts-based semiconductor company Analog Devices Inc (NASDAQ:ADI) ranks fourth in our list of the large-cap tech stocks with recent insider selling. James Champy, a board director at Analog Devices Inc (NASDAQ:ADI), sold 1,228 shares of Analog Devices Inc (NASDAQ:ADI) at $197.64 per share. The transaction took place on March 21. Since then through March 26 the stock has lost about 2.3% in value.

L1 Capital International Fund stated the following regarding Analog Devices, Inc. (NASDAQ:ADI) in its fourth quarter 2023 investor letter:

“We continued to trim our investment in Intuit as, after strong share price appreciation, we now consider the business to be fully valued. We also fully divested our investment in Analog Devices, Inc. (NASDAQ:ADI), again purely due to valuation considerations. We remain very comfortable with the quality of both of these businesses, with Intuit retained as a smaller holding and Analog Devices moving to our Bench of potential future investments. As outlined earlier in this report, our base case view is that there will not be a recession, particularly in the United States. However, growth is slowing, and this will negatively impact demand for many of Analog Devices’ products.”