Meeder Advisory Services Inc. purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,504 shares of the semiconductor company’s stock, valued at approximately $6,158,000.
Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Banque Transatlantique SA bought a new stake in Analog Devices in the fourth quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new position in shares of Analog Devices during the second quarter valued at approximately $25,000. Hilton Head Capital Partners LLC acquired a new stake in Analog Devices in the fourth quarter worth $26,000. Gordian Capital Singapore Pte Ltd bought a new stake in Analog Devices in the 4th quarter valued at about $27,000. Finally, Evolution Wealth Management Inc. acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $30,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Price Performance
ADI stock opened at $376.63 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The firm has a market capitalization of $183.45 billion, a PE ratio of 55.96, a P/E/G ratio of 1.01 and a beta of 1.20. The firm has a 50-day moving average of $390.37 and a two-hundred day moving average of $370.30.
Insider Activity at Analog Devices
In other Analog Devices news, CEO Vincent Roche sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total value of $12,453,900.00. Following the transaction, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at $57,096,149.94. This represents a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Martin Cotter sold 17,594 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total value of $7,354,292.00. Following the completion of the transaction, the senior vice president owned 56,332 shares in the company, valued at $23,546,776. This represents a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 105,274 shares of company stock valued at $42,247,986. 0.36% of the stock is owned by insiders.
More Analog Devices News
Here are the key news stories impacting Analog Devices this week:
- 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 Analyst Weigh In
ADI has been the topic of a number of research analyst reports. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Truist Financial upped their price objective on Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Barclays lifted their target price on Analog Devices from $430.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Wolfe Research reiterated an “outperform” rating and issued a $475.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. Finally, Evercore reissued an “outperform” rating and issued a $474.00 price target on shares of Analog Devices in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $441.00.
Read Our Latest Stock Analysis on Analog Devices
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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