Bryn Mawr Capital Management LLC Has $8.20 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Bryn Mawr Capital Management LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,600 shares of the semiconductor company’s stock after buying an additional 502 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Analog Devices were worth $8,201,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Franklin Resources Inc. raised its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. Finally, FMR LLC grew its position in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ:ADI opened at $235.30 on Wednesday. The company has a market cap of $116.70 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a fifty day moving average price of $216.35 and a two-hundred day moving average price of $220.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last announced its 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 business had revenue of $2.42 billion for 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%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.68%. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.