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% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,128 shares of the semiconductor company’s stock after buying an additional 19,417 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Analog Devices were worth $6,189,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADI. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices in the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC lifted its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices during the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices during the fourth quarter valued at about $41,000. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley upped their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

NASDAQ:ADI opened at $201.56 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock’s fifty day moving average is $216.51 and its 200 day moving average is $219.53. The firm 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, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced 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 shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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 paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. Analog Devices’s dividend payout ratio is currently 126.11%.

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.