Bank of New York Mellon Corp Decreases Holdings in Analog Devices, Inc. $ADI

Bank of New York Mellon Corp reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 3,352,916 shares of the semiconductor company’s stock after selling 93,320 shares during the quarter. Bank of New York Mellon Corp’s holdings in Analog Devices were worth $1,066,696,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADI. Brighton Jones LLC boosted its position in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 529 shares during the period. Sivia Capital Partners LLC lifted its position in Analog Devices by 36.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock worth $417,000 after acquiring an additional 464 shares during the period. Ieq Capital LLC grew its stake in shares of Analog Devices by 38.0% in the 2nd quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock valued at $10,610,000 after purchasing an additional 12,276 shares during the last quarter. HUB Investment Partners LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $644,000. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of Analog Devices by 2.4% in 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 during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore reaffirmed an “outperform” rating and set a $474.00 price target on shares of Analog Devices in a report on Thursday, May 21st. Needham & Company LLC boosted their price objective on shares of Analog Devices from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. The Goldman Sachs Group restated a “buy” rating and set a $450.00 price objective on shares of Analog Devices in a research report on Wednesday, May 20th. Bank of America raised their target price on shares of Analog Devices from $425.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, TD Cowen lifted their target price on shares of Analog Devices from $450.00 to $460.00 and gave the company a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have given 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 Stock Performance

Shares of ADI opened at $390.96 on Thursday. The company has a 50-day simple moving average of $407.81 and a 200-day simple moving average of $356.10. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $190.43 billion, a PE ratio of 58.09, a P/E/G ratio of 1.10 and a beta of 1.18. Analog Devices, Inc. has a 52-week low of $218.37 and a 52-week high of $445.91.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping 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 firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue was up 37.2% on a year-over-year basis. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. Equities research analysts predict that Analog Devices, Inc. will post 12.41 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. Analog Devices’s payout ratio is 65.38%.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 1,416 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $377.01, for a total transaction of $533,846.16. Following the sale, the director directly owned 117,343 shares in the company, valued at approximately $44,239,484.43. The trade was a 1.19% decrease in their ownership of the stock. 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, SVP Martin Cotter sold 17,594 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $23,546,776. This represents a 23.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 103,858 shares of company stock worth $42,062,730. 0.36% of the stock is currently owned by insiders.

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.