Bryn Mawr Capital Management LLC Has $29.83 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Bryn Mawr Capital Management LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 268.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,405 shares of the semiconductor company’s stock after acquiring an additional 102,307 shares during the quarter. Analog Devices accounts for approximately 1.1% of Bryn Mawr Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Bryn Mawr Capital Management LLC’s holdings in Analog Devices were worth $29,830,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% in the 3rd 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 bought a new position in shares of Analog Devices during the 4th quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth approximately $41,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Analog Devices in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 9.7 %

Shares of NASDAQ ADI opened at $241.66 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $119.89 billion, a P/E ratio of 73.45, a P/E/G ratio of 2.46 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The business has a 50-day simple moving average of $214.54 and a two-hundred day simple moving average of $219.80.

Analog Devices (NASDAQ:ADI) last released 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. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This is a positive change 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 1.64%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on ADI shares. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Benchmark started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating and a $245.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.52.

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.