22,471 Analog Devices, Inc. $ADI Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Analog Devices stake by 79.5% in the third quarter, selling 22,471 shares and retaining 5,786 shares valued at about $2.3 million.
• Analog Devices beat quarterly expectations, reporting EPS of $3.45 versus $3.34 expected and revenue of $4.02 billion versus $3.92 billion; revenue rose 39.2% year over year.
• Analysts have a “Moderate Buy” consensus on the stock, with an average price target of $460.55. Institutional investors own 86.81% of the company’s shares.

CenterBook Partners LP lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 79.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,786 shares of the semiconductor company's stock after selling 22,471 shares during the period. CenterBook Partners LP's holdings in Analog Devices were worth $2,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Analog Devices during the second quarter valued at about $18,610,868,000. Bank of America Corp DE bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $3,573,081,000. Legal & General Group Plc purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $1,525,167,000. Bank of New York Mellon Corp purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $1,326,066,000. Finally, Primecap Management Co. CA bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $1,242,479,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler set a $460.00 target price on shares of Analog Devices in a research report on Tuesday, September 8th. Weiss Ratings upgraded shares of Analog Devices from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $510.00 price target (up from $400.00) on shares of Analog Devices in a report on Tuesday, September 8th. Wells Fargo & Company reduced their price target on Analog Devices from $515.00 to $500.00 and set an "overweight" rating on the stock in a research report on Thursday, August 20th. Finally, Robert W. Baird upped their price target on Analog Devices from $450.00 to $675.00 and gave the stock an "outperform" rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $460.55.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $363.56 on Monday. Analog Devices, Inc. has a fifty-two week low of $223.47 and a fifty-two week high of $445.91. The company has a market cap of $176.17 billion, a PE ratio of 43.13, a P/E/G ratio of 0.88 and a beta of 1.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25. The business has a 50-day simple moving average of $390.52 and a two-hundred day simple moving average of $373.48.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.11. The firm had revenue of $4.02 billion for 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 for the quarter was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 13.00 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Analog Devices's payout ratio is currently 52.19%.

Insider Activity at Analog Devices

In other Analog Devices news, insider Vivek Jain sold 3,305 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $406.58, for a total transaction of $1,343,746.90. Following the transaction, the insider owned 40,428 shares in the company, valued at approximately $16,437,216.24. This represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 1,416 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $407.28, for a total transaction of $576,708.48. Following the completion of the transaction, the director directly owned 106,015 shares of the company's stock, valued at approximately $43,177,789.20. This represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,436 shares of company stock worth $20,681,906 in the last 90 days. 0.36% of the stock is owned by insiders.

Analog Devices Profile

Analog Devices, Inc designs and manufactures semiconductor products that help customers sense, measure, interpret and process real-world signals. Its offerings include analog and mixed-signal integrated circuits, power management products, radio-frequency technology, sensors and digital signal processing solutions.

The company's products are used in industrial automation, automotive systems, communications infrastructure, healthcare equipment, consumer devices and aerospace and defense applications.

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