Gibbs Wealth Management purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 29,627 shares of the semiconductor company’s stock, valued at approximately $9,426,000. Analog Devices makes up 1.2% of Gibbs Wealth Management’s investment portfolio, making the stock its 17th largest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth $2,215,516,000. Bank of America Corp DE lifted its stake in shares of Analog Devices by 42.8% in the 4th quarter. Bank of America Corp DE now owns 9,715,095 shares of the semiconductor company’s stock valued at $2,634,734,000 after purchasing an additional 2,912,666 shares during the last quarter. Amundi grew its holdings in shares of Analog Devices by 44.8% during the 3rd quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock worth $1,507,740,000 after purchasing an additional 1,922,302 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Analog Devices by 29.2% during the 3rd quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company’s stock worth $1,186,714,000 after purchasing an additional 1,091,004 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Analog Devices by 3,456.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,059,726 shares of the semiconductor company’s stock worth $287,398,000 after purchasing an additional 1,029,927 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.
Wall Street Analyst Weigh In
ADI has been the subject of a number of research analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $475.00 price objective on shares of Analog Devices in a research report on Thursday, May 21st. Evercore reissued an “outperform” rating and set a $474.00 price objective on shares of Analog Devices in a research report on Thursday, May 21st. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. Stifel Nicolaus upped their price objective on Analog Devices from $450.00 to $498.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Cantor Fitzgerald increased their price objective on Analog Devices from $510.00 to $550.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $441.00.
Insider Buying and Selling
In related news, SVP Martin Cotter sold 17,594 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the sale, the senior vice president owned 56,332 shares of the company’s stock, valued at $23,546,776. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 1,432 shares of Analog Devices stock in a transaction dated 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 of the company’s stock, valued at approximately $48,169,745.25. This trade represents a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 103,858 shares of company stock worth $42,062,730. 0.36% of the stock is currently owned by corporate insiders.
Analog Devices Price Performance
Shares of ADI opened at $380.20 on Friday. 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’s 50 day moving average is $402.84 and its two-hundred day moving average is $360.57. Analog Devices, Inc. has a twelve month low of $218.37 and a twelve month high of $445.91. The firm has a market capitalization of $185.19 billion, a PE ratio of 56.49, a P/E/G ratio of 1.00 and a beta of 1.18.
Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.20. Analog Devices had a net margin of 26.01% and a return on equity of 14.37%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm posted $1.85 EPS. The business’s revenue was up 37.2% compared to the same quarter last year. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. Research analysts anticipate that Analog Devices, Inc. will post 12.42 earnings per share for the current year.
Analog Devices Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, June 2nd. Analog Devices’s dividend payout ratio is 65.38%.
About Analog Devices
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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