336,969 Shares in Analog Devices, Inc. $ADI Acquired by Danske Bank A S

Danske Bank A S purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 336,969 shares of the semiconductor company’s stock, valued at approximately $133,834,000. Danske Bank A S owned 0.07% of Analog Devices at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADI. ING Groep NV increased its holdings in shares of Analog Devices by 45.1% during the fourth quarter. ING Groep NV now owns 222,559 shares of the semiconductor company’s stock worth $60,358,000 after purchasing an additional 69,202 shares during the period. Covenant Asset Management LLC bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $2,500,000. MGO One Seven LLC grew its position in Analog Devices by 17.7% during the fourth quarter. MGO One Seven LLC now owns 45,547 shares of the semiconductor company’s stock worth $12,352,000 after buying an additional 6,846 shares in the last quarter. Jones Kertz & Associates Inc. acquired a new stake in Analog Devices during the fourth quarter worth approximately $1,480,000. Finally, Natixis Advisors LLC increased its stake in Analog Devices by 2.4% during the 4th quarter. Natixis Advisors LLC now owns 1,002,286 shares of the semiconductor company’s stock worth $271,791,000 after acquiring an additional 23,531 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ADI. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Needham & Company LLC increased their target price on Analog Devices from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Sanford C. Bernstein restated a “market perform” rating and issued a $430.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Analog Devices from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings cut shares of Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $441.00.

Analog Devices Stock Down 3.5%

Shares of ADI opened at $376.63 on Wednesday. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The company has a market cap of $183.45 billion, a P/E ratio of 55.96, a P/E/G ratio of 1.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $390.37 and a two-hundred day simple moving average of $370.30.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.20. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the business posted $1.85 EPS. The company’s revenue was up 37.2% compared to the same quarter last year. Research analysts forecast that Analog Devices, Inc. will post 12.42 EPS for the current fiscal year.

More Analog Devices News

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?

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 30,000 shares of Analog Devices stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total value of $12,453,900.00. Following the transaction, the chief executive officer owned 137,538 shares in the company, valued at $57,096,149.94. The trade was a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Martin Cotter sold 17,594 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total value of $7,354,292.00. Following the transaction, the senior vice president directly owned 56,332 shares of the company’s stock, valued at approximately $23,546,776. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,274 shares of company stock worth $42,247,986 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

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.