Danske Bank A S Buys Shares of 336,969 Analog Devices, Inc. $ADI

Danske Bank A S bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 336,969 shares of the semiconductor company’s stock, valued at approximately $133,834,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Analog Devices by 36.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock worth $417,000 after purchasing an additional 464 shares in the last quarter. Ieq Capital LLC increased its holdings in Analog Devices by 38.0% in the 2nd quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock worth $10,610,000 after purchasing an additional 12,276 shares in the last quarter. HUB Investment Partners LLC bought a new position in Analog Devices in the second quarter valued at about $644,000. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Analog Devices by 2.4% during the second quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock valued at $14,322,000 after purchasing an additional 1,406 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Evercore reiterated an “outperform” rating and issued a $474.00 price objective on shares of Analog Devices in a report on Thursday, May 21st. Bank of America lifted their target price on shares of Analog Devices from $425.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Raymond James Financial reissued an “outperform” rating and set a $430.00 target price on shares of Analog Devices in a report on Thursday, May 21st. Finally, Wolfe Research restated an “outperform” rating and issued a $475.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $441.00.

Analog Devices Trading Down 3.5%

NASDAQ ADI opened at $376.63 on Wednesday. The business’s 50-day moving average price is $390.37 and its two-hundred day moving average price is $370.30. Analog Devices, Inc. has a 12 month low of $223.47 and a 12 month high of $445.91. The firm has a market capitalization 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.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.20. The company had revenue of $3.62 billion during 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%.The firm’s revenue was up 37.2% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 12.42 EPS for the current year.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 1,416 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $377.37, for a total transaction of $534,355.92. Following the completion of the transaction, the director owned 114,511 shares in the company, valued at approximately $43,213,016.07. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Golz sold 1,000 shares of the business’s stock in a transaction that occurred on 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 owned 11,019 shares in the company, valued at $4,295,536.77. This trade represents a 8.32% decrease in their position. 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 have sold 105,274 shares of company stock valued at $42,247,986. Insiders own 0.36% of the company’s stock.

Analog Devices News Roundup

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?

Analog Devices 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.