Birch Hill Investment Advisors LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,653 shares of the semiconductor company's stock after purchasing an additional 3,795 shares during the period. Birch Hill Investment Advisors LLC's holdings in Analog Devices were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADI. Sanibel Captiva Trust Company Inc. increased its stake in Analog Devices by 8.2% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 2,423 shares of the semiconductor company's stock worth $558,000 after acquiring an additional 183 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Analog Devices by 86.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,870 shares of the semiconductor company's stock valued at $1,811,000 after buying an additional 3,639 shares during the period. Valeo Financial Advisors LLC lifted its position in Analog Devices by 1.7% in the third quarter. Valeo Financial Advisors LLC now owns 4,548 shares of the semiconductor company's stock valued at $1,047,000 after buying an additional 77 shares during the last quarter. First Affirmative Financial Network boosted its stake in Analog Devices by 8.7% during the third quarter. First Affirmative Financial Network now owns 3,581 shares of the semiconductor company's stock worth $824,000 after buying an additional 288 shares during the period. Finally, Guinness Atkinson Asset Management Inc increased its position in shares of Analog Devices by 14.5% during the third quarter. Guinness Atkinson Asset Management Inc now owns 1,710 shares of the semiconductor company's stock valued at $394,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

NASDAQ:ADI opened at $205.21 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market cap of $101.81 billion, a price-to-earnings ratio of 62.37, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The firm's fifty day moving average price is $215.21 and its 200 day moving average price is $220.35. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Several analysts recently weighed in on ADI shares. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $248.70.

Check Out Our Latest Research Report on Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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