Brown Miller Wealth Management LLC Sells 126 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Brown Miller Wealth Management LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.2% during the fourth quarter, HoldingsChannel reports. The fund owned 10,241 shares of the semiconductor company’s stock after selling 126 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Analog Devices were worth $2,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in shares of Analog Devices by 1.6% during the second quarter. State Street Corp now owns 20,724,346 shares of the semiconductor company’s stock worth $4,037,310,000 after purchasing an additional 320,338 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares in the last quarter. Norges Bank acquired a new stake in Analog Devices in the 4th quarter worth approximately $1,040,194,000. Finally, Morgan Stanley increased its stake in Analog Devices by 16.1% during the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock valued at $982,344,000 after purchasing an additional 830,281 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research reports. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research report on Thursday, January 18th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a report on Thursday, January 4th. KeyCorp lifted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, Truist Financial decreased their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $206.26.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 21,228 shares of company stock worth $4,134,502 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI traded up $4.46 during mid-day trading on Thursday, hitting $197.79. The stock had a trading volume of 3,119,689 shares, compared to its average volume of 3,442,385. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm’s 50 day moving average is $192.93 and its 200 day moving average is $184.47. The stock has a market capitalization of $98.09 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 4.74 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.86%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

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.