Allstate Corp Raises Stock Position in Analog Devices, Inc. $ADI

Key Points

• Allstate Corp increased its stake in Analog Devices, Inc. (ADI) by 32.8%, owning 19,508 shares worth approximately $3.93 million as of the latest SEC filing.
• Several hedge funds have also recently acquired new positions in Analog Devices, underscoring strong institutional interest, with 86.81% of stock held by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $273.53 for Analog Devices, reflecting positive sentiment among investment professionals.

Allstate Corp increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,508 shares of the semiconductor company's stock after buying an additional 4,813 shares during the quarter. Allstate Corp's holdings in Analog Devices were worth $3,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $27,000. Alpine Bank Wealth Management acquired a new position in Analog Devices in the first quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new position in Analog Devices during the first quarter worth about $33,000. Finally, North Capital Inc. acquired a new stake in shares of Analog Devices during the first quarter valued at about $36,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADI shares. Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. The Goldman Sachs Group started coverage on Analog Devices in a research report on Thursday, July 10th. They set a "buy" rating and a $285.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday. Truist Financial raised their target price on Analog Devices from $219.00 to $249.00 and gave the company a "hold" rating in a report on Thursday. Finally, Seaport Res Ptn upgraded shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $273.53.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

Shares of ADI opened at $246.95 on Friday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $250.18. The stock has a market capitalization of $122.55 billion, a PE ratio of 63.00, a PEG ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.51 and a current ratio of 2.32. The stock has a 50-day simple moving average of $234.26 and a 200-day simple moving average of $217.03.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.10. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business's quarterly revenue was up 24.6% compared to the same quarter last year. Analog Devices has set its Q4 2025 guidance at 2.120-2.320 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Analog Devices's payout ratio is 107.90%.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.