Bryn Mawr Capital Management LLC Buys 502 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bryn Mawr Capital Management LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 38,600 shares of the semiconductor company’s stock after acquiring 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.

Several other large investors also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. lifted its position in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank boosted its position in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp bought a new position in Analog Devices in the fourth quarter valued at approximately $460,000. Finally, Summit Global Investments bought a new stake in Analog Devices during the third quarter worth $867,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $235.30 on Wednesday. The stock has a market capitalization of $116.70 billion, a PE ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. The business’s 50 day simple moving average is $216.35 and its 200 day simple moving average is $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, Inc. has a one year low of $182.57 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a share repurchase 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend 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 126.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADI shares. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Benchmark upped their price objective 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. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

About Analog Devices

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.