Diversify Advisory Services LLC Makes New Investment in Analog Devices, Inc. $ADI

Diversify Advisory Services LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,529 shares of the semiconductor company’s stock, valued at approximately $2,428,000.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Riverbend Wealth Management LLC grew its stake in shares of Analog Devices by 2.2% during the first quarter. Riverbend Wealth Management LLC now owns 1,245 shares of the semiconductor company’s stock valued at $396,000 after acquiring an additional 27 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Analog Devices by 1.5% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company’s stock valued at $574,000 after purchasing an additional 27 shares in the last quarter. Silicon Valley Capital Partners increased its holdings in Analog Devices by 4.2% during the 1st quarter. Silicon Valley Capital Partners now owns 672 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 27 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Analog Devices by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 281 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 30 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its position in shares of Analog Devices by 5.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 671 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 32 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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?

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 30,000 shares of Analog Devices stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $415.13, for a total value of $12,453,900.00. Following the completion of the transaction, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at approximately $57,096,149.94. The trade was a 17.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 1,432 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $400.83, for a total transaction of $573,988.56. Following the sale, the director directly owned 120,175 shares of the company’s stock, valued at approximately $48,169,745.25. This represents a 1.18% 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. Over the last 90 days, insiders sold 105,274 shares of company stock valued at $42,247,986. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Analog Devices from $410.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $550.00 price target on shares of Analog Devices in a report on Monday. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price objective on shares of Analog Devices in a research note on Wednesday, May 20th. Argus set a $460.00 price objective on shares of Analog Devices in a report on Tuesday, May 26th. Finally, Bank of America boosted 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $441.00.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $376.63 on Wednesday. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. 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 company has a market capitalization of $183.45 billion, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The business has a 50 day simple moving average of $390.37 and a 200-day simple moving average of $370.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 37.2% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. As a group, equities research analysts expect that Analog Devices, Inc. will post 12.42 earnings per share for the current year.

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.