Danica Pension Livsforsikringsaktieselskab Buys New Shares in Analog Devices, Inc. $ADI

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 34,005 shares of the semiconductor company’s stock, valued at approximately $13,506,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake 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 worth $397,000 after purchasing an additional 529 shares during the last quarter. Sivia Capital Partners LLC lifted its stake 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 valued at $417,000 after purchasing an additional 464 shares during the last quarter. Ieq Capital LLC lifted its stake in 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 bought a new position in Analog Devices during the second quarter worth about $644,000. Finally, Peapack Gladstone Financial Corp increased its position in Analog Devices by 2.4% during the second quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock worth $14,322,000 after buying an additional 1,406 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Key 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?

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADI. Argus set a $460.00 price objective on Analog Devices in a research note on Tuesday, May 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $550.00 target price on shares of Analog Devices in a research note on Monday. Robert W. Baird boosted their target price on Analog Devices from $365.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Oppenheimer increased their price target on Analog Devices from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings downgraded Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $441.00.

Insider Activity

In other news, Director Karen Golz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $389.83, for a total transaction of $389,830.00. Following the completion of the sale, the director owned 11,019 shares of the company’s stock, valued at approximately $4,295,536.77. This represents a 8.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $377.37, for a total transaction of $534,355.92. Following the sale, the director owned 114,511 shares in the company, valued at $43,213,016.07. This represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 105,274 shares of company stock worth $42,247,986. 0.36% of the stock is owned by company insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $376.63 on Wednesday. The stock has a fifty day moving average price of $390.37 and a 200-day moving average price of $370.30. The company has a market cap of $183.45 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 1.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.75. Analog Devices, Inc. has a fifty-two week low of $223.47 and a fifty-two week high of $445.91.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.20. The company 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%.Analog Devices’s revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the business earned $1.85 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 12.42 EPS for the current fiscal year.

Analog Devices Company 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.