1,458 Shares in Analog Devices, Inc. $ADI Bought by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,458 shares of the semiconductor company’s stock, valued at approximately $579,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. ING Groep NV lifted its stake in 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 last quarter. Covenant Asset Management LLC bought a new stake in Analog Devices during the fourth quarter valued at $2,500,000. MGO One Seven LLC increased its stake 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 valued at $12,352,000 after purchasing an additional 6,846 shares during the last quarter. Jones Kertz & Associates Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,480,000. Finally, Natixis Advisors LLC raised its holdings in shares of Analog Devices by 2.4% during the fourth quarter. Natixis Advisors LLC now owns 1,002,286 shares of the semiconductor company’s stock worth $271,791,000 after purchasing an additional 23,531 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

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?

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADI. Fundamental Research set a $550.00 price target on shares of Analog Devices in a report on Monday, June 29th. Wells Fargo & Company increased their price objective on shares of Analog Devices from $470.00 to $515.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Robert W. Baird raised their target price on shares of Analog Devices from $365.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Argus set a $460.00 target price on Analog Devices in a research note on Tuesday, May 26th. Finally, Truist Financial upped their target price on Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $441.00.

Analog Devices Stock Down 3.5%

ADI stock opened at $376.63 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. Analog Devices, Inc. has a fifty-two week low of $223.47 and a fifty-two week high of $445.91. The firm’s 50-day simple moving average is $390.37 and its 200 day simple moving average is $370.30. The stock has a market cap of $183.45 billion, a PE ratio of 55.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm posted $1.85 EPS. Analog Devices’s quarterly revenue was up 37.2% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 12.42 EPS for the current year.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 1,432 shares of Analog Devices stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $400.83, for a total transaction of $573,988.56. Following the sale, the director owned 120,175 shares of the company’s stock, valued at $48,169,745.25. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of the stock in a transaction on 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 105,274 shares of company stock valued at $42,247,986. Corporate insiders own 0.36% of the company’s stock.

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.