Bryn Mawr Capital Management LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bryn Mawr Capital Management LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 268.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,405 shares of the semiconductor company’s stock after purchasing an additional 102,307 shares during the quarter. Analog Devices accounts for about 1.1% of Bryn Mawr Capital Management LLC’s holdings, making the stock its 23rd largest holding. Bryn Mawr Capital Management LLC’s holdings in Analog Devices were worth $29,830,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices in the fourth quarter worth about $33,000. Kestra Investment Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the 3rd quarter valued at about $43,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADI shares. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial raised their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, Benchmark assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating and a $245.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.52.

Analog Devices Trading Up 9.7 %

NASDAQ ADI opened at $241.66 on Thursday. The firm has a market capitalization of $119.89 billion, a PE ratio of 73.45, a P/E/G ratio of 2.46 and a beta of 1.04. The stock’s 50 day moving average is $214.54 and its 200 day moving average is $219.80. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. Research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 111.85%.

Analog Devices 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.