Convergence Financial LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 50.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,239 shares of the semiconductor company’s stock after selling 1,249 shares during the period. Convergence Financial LLC’s holdings in Analog Devices were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Analog Devices during the 2nd quarter worth approximately $18,610,868,000. Bank of America Corp DE boosted its position in Analog Devices by 5.2% in the first quarter. Bank of America Corp DE now owns 10,216,699 shares of the semiconductor company’s stock valued at $3,250,341,000 after buying an additional 501,604 shares in the last quarter. Van ECK Associates Corp boosted its position in Analog Devices by 24.7% in the second quarter. Van ECK Associates Corp now owns 8,422,883 shares of the semiconductor company’s stock valued at $3,345,316,000 after buying an additional 1,670,957 shares in the last quarter. Amundi grew its stake in shares of Analog Devices by 5.3% during the first quarter. Amundi now owns 5,044,271 shares of the semiconductor company’s stock worth $1,604,771,000 after buying an additional 254,632 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Analog Devices during the second quarter worth $1,525,167,000. 86.81% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ADI. Seaport Research Partners upgraded shares of Analog Devices from a “neutral” rating to a “buy” rating and set a $425.00 price target for the company in a report on Thursday, August 20th. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. Evercore reduced their price objective on Analog Devices from $474.00 to $462.00 and set an “outperform” rating on the stock in a research report on Thursday, August 20th. Arete Research upped their target price on Analog Devices from $487.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings raised Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.55.
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Analog Devices Stock Up 1.2%
Shares of ADI opened at $433.28 on Friday. The company has a market capitalization of $209.95 billion, a PE ratio of 51.40, a PEG ratio of 1.32 and a beta of 1.22. Analog Devices, Inc. has a 12 month low of $223.47 and a 12 month high of $445.91. The stock’s 50-day moving average price is $387.60 and its two-hundred day moving average price is $370.51. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20.
Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.11. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.92 billion. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%. The business’s revenue was up 39.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 13.00 EPS for the current year.
Analog Devices Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $1.10 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $4.40 annualized dividend and a yield of 1.0%. Analog Devices’s dividend payout ratio is presently 52.19%.
Insiders Place Their Bets
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $396.94, for a total transaction of $3,969,400.00. Following the completion of the sale, the chief executive officer owned 115,460 shares of the company’s stock, valued at approximately $45,830,692.40. This represents a 7.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $420.04, for a total transaction of $594,776.64. Following the transaction, the director owned 108,847 shares of the company’s stock, valued at approximately $45,720,093.88. The trade was a 1.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,436 shares of company stock valued at $20,014,954 over the last three months. Insiders own 0.36% of the company’s stock.
Analog Devices Profile
Analog Devices, Inc (NASDAQ: ADI) is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.
The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.
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