Osterweis Capital Management Inc. increases position in Analog Devices, Inc. (NASDAQ:ADI)

According to the latest Form 13F filed with the Securities and Exchange Commission, Osterweis Capital Management Inc. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) up 5.4% in the fourth quarter. The fund owned 189,722 shares of the semiconductor company after acquiring an additional 9,676 shares during the period. Analog Devices represents approximately 2.4% of Osterweis Capital Management Inc.’s investment portfolio, making it the eighth largest. At the end of the last reporting period, the value of shares of Osterweis Capital Management Inc. at Analog Devices was $37,671,000.

A number of other hedge funds also bought and sold shares of the company. In the fourth quarter, Massachusetts Financial Services Co. MA increased its stake in Analog Devices shares by 8.6%. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares in the last quarter. Invesco Ltd. increased its holdings in Analog Devices shares by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after purchasing an additional 701,367 shares in the last quarter. Norges Bank purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $1,225,227,000. Capital International Investors increased its exposure to shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Analog Devices by 9.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after purchasing an additional 327,542 shares in the last quarter. Institutional investors hold 86.81% of the company’s shares.

Confidential activity

In other news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock valued at $1,134,982.20. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In related news, Vice President Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94 for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a filing with the SEC, available at this link. Additionally, Vice President Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The announcement of this sale can be found here. Over the last 90 days, insiders have sold a total of 51,349 shares of company stock worth $11,118,356. Currently, corporate insiders own 0.31% of the shares.

Analog equipment inventory performance

On Friday, ADI opened at $231.19. Analog Devices, Inc. it has a 52-week low of $154.99 and a 52-week high of $241.88. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt to equity ratio of 0.19. The company has a market capitalization of $114.72 billion, a P/E ratio of 54.02, a price-to-earnings ratio of 4.04 and a beta of 1.12. The company’s 50-day moving average price is $212.62 and its 200-day moving average price is $199.31.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported earnings per share (EPS) of $1.40 for the quarter, $0.14 above the consensus estimate of $1.26. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue for the quarter was $2.16 billion, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company reported earnings per share of $2.83. The company’s revenue for this quarter decreased by 33.8% compared to the same quarter last year. As a group, stock analysts predict that Analog Devices, Inc. will report an EPS of 6.22 for the current financial year.

Analog Devices announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Stockholders who will receive a dividend of $0.92 per share on Tuesday, June 4th. The ex-dividend date of this dividend is Tuesday, June 4. This represents an annual dividend of $3.68 and a dividend yield of 1.59%. Analog Devices’ dividend payout ratio (DPR) is currently 85.98%.

Wall Street analysts predict growth

A number of research analysts have commented on the stock recently. UBS Group increased their target price on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” in a report on Thursday, May 23rd. Bank of America increased their target price on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Morgan Stanley increased their target price on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Cantor Fitzgerald increased their price target on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Seven investment analysts have rated the company with a hold rating and eighteen analysts have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.23.

Check out our latest stock analysis on ADI

About analog devices

(free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

Confidential activity

Analog equipment inventory performance

Analog Devices announces dividend

Wall Street analysts predict growth

About analog devices

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