QRG Capital Management Inc. Increases Stock Position in Analog Devices, Inc. $ADI

QRG Capital Management Inc. grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 12.3% during the 2nd quarter, Holdings Channel reports. The firm owned 108,465 shares of the semiconductor company’s stock after buying an additional 11,849 shares during the period. QRG Capital Management Inc.’s holdings in Analog Devices were worth $43,079,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Analog Devices by 5.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 57,006 shares of the semiconductor company’s stock worth $22,641,000 after purchasing an additional 3,096 shares during the last quarter. Wellington Altus USA Inc. grew its holdings in Analog Devices by 212.1% during the 2nd quarter. Wellington Altus USA Inc. now owns 1,002 shares of the semiconductor company’s stock valued at $398,000 after buying an additional 681 shares during the last quarter. Bouchey Financial Group Ltd. acquired a new stake in Analog Devices during the 2nd quarter valued at $205,000. Sequoia Financial Advisors LLC increased its position in Analog Devices by 5.1% during the second quarter. Sequoia Financial Advisors LLC now owns 21,450 shares of the semiconductor company’s stock worth $8,519,000 after buying an additional 1,041 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in Analog Devices during the second quarter worth $1,922,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the transaction, the chief executive officer directly owned 137,538 shares in the company, valued at $49,926,294. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $374.50, for a total transaction of $374,500.00. Following the completion of the sale, the director directly owned 10,019 shares in the company, valued at $3,752,115.50. This represents a 9.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 41,931 shares of company stock worth $15,560,832. 0.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ADI shares. JPMorgan Chase & Co. upped their price objective on Analog Devices from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Piper Sandler set a $460.00 price objective on Analog Devices in a research report on Tuesday, September 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $480.00 target price on shares of Analog Devices in a research note on Wednesday, August 19th. TD Cowen restated a “buy” rating and issued a $460.00 target price on shares of Analog Devices in a report on Tuesday, September 8th. Finally, Morgan Stanley raised their price target on shares of Analog Devices from $428.00 to $458.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $457.97.

Analog Devices Trading Down 1.3%

Shares of Analog Devices stock traded down $5.14 during trading hours on Wednesday, reaching $385.23. 3,203,995 shares of the company’s stock were exchanged, compared to its average volume of 4,134,958. Analog Devices, Inc. has a 52-week low of $223.47 and a 52-week high of $445.91. The company has a fifty day moving average of $372.63 and a 200-day moving average of $375.77. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $186.67 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.34 by $0.11. The firm had revenue of $4.02 billion during 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 quarterly revenue was up 39.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 12.96 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders 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 1.1%. Analog Devices’s payout ratio is 52.19%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a global semiconductor company that designs and manufactures high-performance analog, mixed-signal, power-management and radio-frequency integrated circuits. Its technologies help convert real-world signals—such as temperature, pressure, sound, motion and light—into data that electronic systems can process and use.

The company offers data converters, amplifiers, power-management products, sensors, embedded processors, connectivity solutions and other semiconductor components.