Brown Miller Wealth Management LLC Purchases 2,234 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Brown Miller Wealth Management LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,997 shares of the semiconductor company’s stock after purchasing an additional 2,234 shares during the period. Brown Miller Wealth Management LLC’s holdings in Analog Devices were worth $2,621,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH grew its holdings in Analog Devices by 2.8% during the first quarter. Trust Co. of Toledo NA OH now owns 19,355 shares of the semiconductor company’s stock worth $3,903,000 after buying an additional 531 shares in the last quarter. Brighton Jones LLC grew its holdings in Analog Devices by 7.0% during the first quarter. Brighton Jones LLC now owns 1,998 shares of the semiconductor company’s stock worth $403,000 after buying an additional 131 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Analog Devices by 38.2% during the first quarter. Exchange Traded Concepts LLC now owns 24,668 shares of the semiconductor company’s stock worth $4,975,000 after buying an additional 6,813 shares in the last quarter. SFM LLC bought a new stake in Analog Devices during the first quarter worth $218,000. Finally, Ritholtz Wealth Management grew its holdings in Analog Devices by 6.1% during the first quarter. Ritholtz Wealth Management now owns 6,609 shares of the semiconductor company’s stock worth $1,333,000 after buying an additional 379 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

ADI opened at $225.03 on Monday. The company has a market capitalization of $111.67 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $204.95 and a 200-day moving average price of $210.70. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices’s payout ratio is 107.90%.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,934 shares of company stock valued at $6,643,956. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ADI. Piper Sandler decreased their price target on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Stifel Nicolaus upped their price objective on Analog Devices from $225.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, UBS Group reduced their price objective on Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.63.

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.