Brown Brothers Harriman & Co. Acquires 19,417 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Brown Brothers Harriman & Co. boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 199.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,128 shares of the semiconductor company’s stock after acquiring an additional 19,417 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Analog Devices were worth $6,189,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. DnB Asset Management AS increased its holdings in shares of Analog Devices by 36.8% in the 4th quarter. DnB Asset Management AS now owns 124,936 shares of the semiconductor company’s stock valued at $26,544,000 after acquiring an additional 33,595 shares during the period. Orion Portfolio Solutions LLC boosted its position in Analog Devices by 9.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 48,196 shares of the semiconductor company’s stock valued at $10,240,000 after purchasing an additional 4,339 shares in the last quarter. AKO Capital LLP grew its stake in Analog Devices by 3.8% in the fourth quarter. AKO Capital LLP now owns 1,167,224 shares of the semiconductor company’s stock valued at $247,988,000 after purchasing an additional 42,938 shares during the last quarter. Norges Bank bought a new position in Analog Devices in the fourth quarter worth about $1,755,958,000. Finally, Blair William & Co. IL lifted its position in shares of Analog Devices by 2.6% during the fourth quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company’s stock valued at $8,957,000 after buying an additional 1,064 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ADI shares. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. UBS Group upped their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Friday. 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, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The business has a 50 day moving average of $216.51 and a two-hundred day moving average of $219.53. The company has a market capitalization of $99.97 billion, a PE ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm 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 revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

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