Brown Advisory Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.2% in the 2nd quarter, Holdings Channel reports. The firm owned 17,315 shares of the semiconductor company’s stock after purchasing an additional 1,170 shares during the quarter. Brown Advisory Inc.’s holdings in Analog Devices were worth $1,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. JPMorgan Chase & Co. increased its position in shares of Analog Devices by 17.7% during the 1st quarter. JPMorgan Chase & Co. now owns 22,229,063 shares of the semiconductor company’s stock valued at $2,025,734,000 after purchasing an additional 3,344,969 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 23.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,929,042 shares of the semiconductor company’s stock valued at $1,623,835,000 after purchasing an additional 3,199,255 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $108,490,000. FIL Ltd increased its position in shares of Analog Devices by 9,511.9% during the 1st quarter. FIL Ltd now owns 1,173,424 shares of the semiconductor company’s stock valued at $106,934,000 after purchasing an additional 1,161,216 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Analog Devices by 2,304.5% during the 1st quarter. Millennium Management LLC now owns 1,055,409 shares of the semiconductor company’s stock valued at $96,179,000 after purchasing an additional 1,011,516 shares during the last quarter. 88.26% of the stock is owned by hedge funds and other institutional investors.

In other Analog Devices news, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $262,413.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neil S. Novich sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $95.90, for a total value of $719,250.00. Following the completion of the transaction, the director now owns 30,240 shares of the company’s stock, valued at $2,900,016. The disclosure for this sale can be found here. Insiders sold a total of 106,655 shares of company stock valued at $10,425,833 over the last three months. 1.10% of the stock is currently owned by insiders.

Analog Devices stock opened at $93.96 on Friday. The company has a market capitalization of $36.09 billion, a P/E ratio of 19.91, a PEG ratio of 1.33 and a beta of 1.18. Analog Devices, Inc. has a 12-month low of $80.10 and a 12-month high of $103.59. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. analysts forecast that Analog Devices, Inc. will post 5.89 EPS for the current year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Friday, August 31st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 30th. Analog Devices’s dividend payout ratio is 40.68%.

Several equities research analysts have recently commented on ADI shares. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Morgan Stanley upped their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 31st. B. Riley reduced their price target on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 31st. Stifel Nicolaus upped their price target on shares of Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Finally, Credit Suisse Group upped their price target on shares of Analog Devices from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 31st. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Analog Devices has an average rating of “Buy” and a consensus target price of $107.00.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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