566,948 Shares in Analog Devices, Inc. $ADI Purchased by Palestra Capital Management LLC

Key Points

• Palestra Capital Management acquired 566,948 Analog Devices shares worth approximately $225.2 million, making ADI its third-largest holding and 7.6% of its portfolio. Institutional investors collectively own 86.81% of the company.
• Analog Devices reported quarterly EPS of $3.45 and revenue of $4.02 billion, exceeding analyst expectations; revenue increased 39.2% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $454.63.
• Insiders sold 45,274 shares worth $17.9 million over the past three months, while the company declared a quarterly dividend of $1.10 per share, equivalent to a 1.2% annualized yield.

Palestra Capital Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 566,948 shares of the semiconductor company's stock, valued at approximately $225,175,000. Analog Devices makes up approximately 7.6% of Palestra Capital Management LLC's portfolio, making the stock its 3rd largest holding. Palestra Capital Management LLC owned 0.12% of Analog Devices at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADI. BlackRock Inc. acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $18,610,868,000. Bank of America Corp DE acquired a new stake in shares of Analog Devices in the second quarter valued at approximately $3,573,081,000. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth $2,215,516,000. Legal & General Group Plc acquired a new position in Analog Devices during the second quarter worth $1,525,167,000. Finally, Bank of New York Mellon Corp purchased a new stake in Analog Devices in the 2nd quarter valued at $1,326,066,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity at Analog Devices

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 value of $389,830.00. Following the transaction, the director directly owned 11,019 shares in the company, 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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the transaction, the chief executive officer directly owned 137,538 shares of the company's stock, valued at $49,926,294. The trade was a 6.78% 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. In the last three months, insiders sold 45,274 shares of company stock worth $17,889,486. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ADI. Wells Fargo & Company cut their target price on Analog Devices from $515.00 to $500.00 and set an "overweight" rating for the company in a research note on Thursday, August 20th. Oppenheimer boosted their price target on shares of Analog Devices from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group reissued a "buy" rating and issued a $480.00 price objective on shares of Analog Devices in a report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Finally, Argus set a $460.00 target price on shares of Analog Devices in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of "Buy" and a consensus target price of $454.63.

Analog Devices Price Performance

NASDAQ:ADI opened at $371.80 on Thursday. Analog Devices, Inc. has a 52 week low of $223.47 and a 52 week high of $445.91. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $180.16 billion, a P/E ratio of 44.10, a P/E/G ratio of 0.76 and a beta of 1.20. The stock's fifty day moving average is $385.42 and its two-hundred day moving average is $372.64.

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

Analog Devices Announces Dividend

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

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.

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