Palestra Capital Management LLC Buys New Position in Analog Devices, Inc. $ADI

Palestra Capital Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 566,948 shares of the semiconductor company’s stock, valued at approximately $225,175,000. Analog Devices comprises approximately 7.6% of Palestra Capital Management LLC’s portfolio, making the stock its 3rd biggest holding.

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

Insiders Place Their Bets

In related news, Director Karen Golz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $389.83, for a total value of $389,830.00. Following the completion of the transaction, the director directly owned 11,019 shares of the company’s stock, valued at $4,295,536.77. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 company’s stock in a transaction that occurred 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 directly owned 56,332 shares of the company’s stock, valued at $23,546,776. This trade represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,274 shares of company stock worth $17,889,486. Insiders own 0.36% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $371.80 on Thursday. The firm has a market capitalization of $180.16 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 0.76 and a beta of 1.20. The firm’s fifty day simple moving average is $385.42 and its 200-day simple moving average is $372.64. 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 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.11. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The company’s revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Equities analysts forecast that Analog Devices, Inc. will post 12.96 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Analog Devices’s dividend payout ratio is currently 52.19%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADI. Truist Financial increased their price objective on Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Needham & Company LLC boosted their target price on Analog Devices from $440.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Wolfe Research restated an “outperform” rating and set a $475.00 price target on shares of Analog Devices in a report on Thursday, May 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $480.00 price target on shares of Analog Devices in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Buy” and an average target price of $454.63.

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.