Bourgeon Capital Management LLC Has $2.39 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bourgeon Capital Management LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,859 shares of the semiconductor company's stock after acquiring an additional 1,800 shares during the period. Bourgeon Capital Management LLC's holdings in Analog Devices were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Broderick Brian C raised its position in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP bought a new position in Analog Devices in the 4th quarter worth $10,212,000. Vest Financial LLC lifted its position in Analog Devices by 47.7% during the 4th quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company's stock worth $1,482,000 after acquiring an additional 2,252 shares during the last quarter. CIBC Asset Management Inc lifted its position in Analog Devices by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock worth $38,928,000 after acquiring an additional 3,529 shares during the last quarter. Finally, Hickory Asset Management Inc. bought a new stake in Analog Devices during the fourth quarter valued at about $366,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ADI. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. KGI Securities assumed coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Finally, TD Cowen increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

Analog Devices Trading Up 0.0%

Shares of NASDAQ ADI traded up $0.07 during midday trading on Wednesday, hitting $218.50. The stock had a trading volume of 4,199,243 shares, compared to its average volume of 3,552,793. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a market cap of $108.43 billion, a P/E ratio of 69.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company's 50-day simple moving average is $198.46 and its 200 day simple moving average is $210.12.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.40 EPS. The company's quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analog Devices announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director now owns 180,071 shares of the company's stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of the company'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 transaction 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 $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 a total of 42,934 shares of company stock valued at $8,735,156 in the last 90 days. 0.33% of the stock is owned by company insiders.

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.