AIA Group Ltd Sells 8,743 Shares of Analog Devices, Inc. $ADI

Key Points

• AIA Group cut its Analog Devices stake by 24.2% in the third quarter, selling 8,743 shares and retaining 27,350 shares valued at about $10.85 million.
• Analysts remain broadly positive: 29 rate the stock Buy and one Strong Buy, with a consensus “Moderate Buy” rating and a $460.55 price target.
• Analog Devices beat quarterly expectations, reporting EPS of $3.45 and revenue of $4.02 billion; revenue rose 39.2% year over year.

AIA Group Ltd cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,350 shares of the semiconductor company's stock after selling 8,743 shares during the period. AIA Group Ltd's holdings in Analog Devices were worth $10,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADI. BlackRock Inc. purchased a new stake in shares of Analog Devices during the second quarter valued at $18,610,868,000. Bank of America Corp DE raised its position in Analog Devices by 5.2% in the 1st quarter. Bank of America Corp DE now owns 10,216,699 shares of the semiconductor company's stock worth $3,250,341,000 after buying an additional 501,604 shares during the last quarter. Van ECK Associates Corp lifted its stake in Analog Devices by 24.7% during the 2nd quarter. Van ECK Associates Corp now owns 8,422,883 shares of the semiconductor company's stock valued at $3,345,316,000 after acquiring an additional 1,670,957 shares during the period. Amundi lifted its stake in Analog Devices by 5.3% during the 1st quarter. Amundi now owns 5,044,271 shares of the semiconductor company's stock valued at $1,604,771,000 after acquiring an additional 254,632 shares during the period. Finally, Legal & General Group Plc bought a new position in Analog Devices during the 2nd quarter valued at about $1,525,167,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADI. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Wells Fargo & Company lowered their price objective on shares of Analog Devices from $515.00 to $500.00 and set an "overweight" rating on the stock in a research report on Thursday, August 20th. BMO Capital Markets initiated coverage on shares of Analog Devices in a research report on Thursday, August 20th. They set an "outperform" rating and a $430.00 price objective on the stock. Robert W. Baird raised their target price on shares of Analog Devices from $450.00 to $675.00 and gave the stock an "outperform" rating in a report on Monday, August 24th. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $428.00 to $458.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $460.55.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $419.79 on Wednesday. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91. The firm has a market capitalization of $203.42 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 1.00 and a beta of 1.24. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $390.31 and a 200 day moving average of $372.32.

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 the consensus estimate of $3.34 by $0.11. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $2.05 earnings per share. The company's quarterly revenue was up 39.2% on a year-over-year basis. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 13.00 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 1st. Analog Devices's dividend payout ratio is currently 52.19%.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 1,416 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $420.04, for a total value of $594,776.64. Following the completion of the transaction, the director directly owned 108,847 shares in the company, valued at $45,720,093.88. This represents a 1.28% decrease in their ownership of the stock. The transaction 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, insider Vivek Jain sold 3,305 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $406.58, for a total transaction of $1,343,746.90. Following the completion of the transaction, the insider owned 40,428 shares of the company's stock, valued at approximately $16,437,216.24. The trade was a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 51,020 shares of company stock worth $20,105,198 in the last ninety days. Corporate insiders own 0.36% of the company's stock.

Analog Devices Company Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.

The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.

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