Birch Hill Investment Advisors LLC Buys 105,505 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Birch Hill Investment Advisors LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 487.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,158 shares of the semiconductor company's stock after purchasing an additional 105,505 shares during the quarter. Analog Devices makes up about 1.2% of Birch Hill Investment Advisors LLC's investment portfolio, making the stock its 26th largest holding. Birch Hill Investment Advisors LLC's holdings in Analog Devices were worth $25,644,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter valued at $1,755,958,000. Raymond James Financial Inc. acquired a new position in shares of Analog Devices during the fourth quarter valued at $833,386,000. Proficio Capital Partners LLC boosted its holdings in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Analog Devices by 25,460.1% during the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after acquiring an additional 2,203,062 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after acquiring an additional 1,186,981 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Noble Financial raised shares of Analog Devices to an "outperform" rating in a report on Wednesday. Cfra Research cut shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Barclays lifted their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, Evercore ISI lifted their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Trading Up 1.0%

NASDAQ ADI traded up $2.21 on Wednesday, hitting $229.65. 2,551,500 shares of the company were exchanged, compared to its average volume of 3,577,689. The company's 50 day moving average price is $206.88 and its 200-day moving average price is $210.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm has a market capitalization of $113.96 billion, a P/E ratio of 62.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,934 shares of company stock worth $5,807,196 in the last 90 days. Company insiders own 0.33% of the company's stock.

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.