Compass Wealth Management LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,868 shares of the semiconductor company’s stock, valued at approximately $1,139,000.
A number of other hedge funds have also recently made changes to their positions in ADI. Contravisory Investment Management Inc. purchased a new stake in Analog Devices in the second quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Analog Devices during the second quarter worth $32,000. Banque Transatlantique SA purchased a new position in shares of Analog Devices during the fourth quarter worth $25,000. Evolution Wealth Management Inc. acquired a new stake in shares of Analog Devices in the first quarter valued at $30,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.
Insider Buying and Selling
In other news, Director Karen Golz sold 1,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $389.83, for a total transaction of $389,830.00. Following the completion of the transaction, the director directly owned 11,019 shares of the company’s stock, valued at approximately $4,295,536.77. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,432 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $400.83, for a total transaction of $573,988.56. Following the sale, the director owned 120,175 shares in the company, valued at $48,169,745.25. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 105,274 shares of company stock worth $42,247,986. 0.36% of the stock is owned by corporate insiders.
Key Analog Devices News
- Positive Sentiment: Analysts expect fiscal Q3 earnings of approximately $3.33 per share, compared with $2.05 per share a year earlier. Several highly rated analysts have recently revised their forecasts, supporting expectations for continued earnings growth. Analog Devices likely to report higher Q3 earnings
- Positive Sentiment: Analog Devices enters the report after record recent revenue, expanding margins and strong free-cash-flow generation. Management previously targeted roughly $3.9 billion of fiscal Q3 revenue and adjusted EPS near $3.30, creating potential for a “beat and raise” reaction if results exceed those targets. Analog Devices stock rises as earnings target approaches
- Positive Sentiment: The industrial segment continues to benefit from factory modernization, electrification and robotics demand. Wall Street sentiment remains broadly favorable, including Cantor Fitzgerald’s reaffirmed Overweight rating and $550 price target. Can ADI’s industrial segment sustain growth momentum?
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Sanford C. Bernstein reissued a “market perform” rating and set a $430.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. Truist Financial lifted their target price on Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Needham & Company LLC boosted their price target on shares of Analog Devices from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. KeyCorp raised their price objective on shares of Analog Devices from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays lifted their price objective on shares of Analog Devices from $430.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $441.00.
Get Our Latest Research Report on Analog Devices
Analog Devices Trading Down 3.5%
NASDAQ:ADI opened at $376.63 on Wednesday. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91. The firm has a market cap of $183.45 billion, a PE ratio of 55.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $390.37 and a 200 day moving average price of $370.30.
Analog Devices (NASDAQ:ADI – Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.Analog Devices’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 12.42 earnings per share for the current fiscal year.
Analog Devices Company Profile
Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.
The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.
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