Analog Devices, Inc. $ADI Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Analog Devices stake by 12.8% in the third quarter, adding 27,944 shares to hold 246,932 shares valued at about $99.9 million. Institutional investors and hedge funds own 86.81% of the stock.
• Company insiders sold 52,436 shares worth approximately $20.7 million over the past 90 days. CFO Richard Puccio’s sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $460.55. In its latest reported quarter, Analog Devices beat earnings and revenue estimates, while revenue rose 39.2% year over year.

Allspring Global Investments Holdings LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,932 shares of the semiconductor company's stock after buying an additional 27,944 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Analog Devices worth $99,909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. StoneRidge PMG Advisors LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $691,000. Beverly Hills Private Wealth LLC lifted its position in shares of Analog Devices by 11.9% during the third quarter. Beverly Hills Private Wealth LLC now owns 1,725 shares of the semiconductor company's stock worth $684,000 after purchasing an additional 184 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in shares of Analog Devices by 7.0% during the third quarter. Hohimer Wealth Management LLC now owns 2,190 shares of the semiconductor company's stock worth $869,000 after purchasing an additional 144 shares during the last quarter. Almanack Investment Partners LLC. grew its stake in Analog Devices by 21.4% in the third quarter. Almanack Investment Partners LLC. now owns 1,124 shares of the semiconductor company's stock worth $446,000 after purchasing an additional 198 shares in the last quarter. Finally, M Holdings Securities Inc. acquired a new position in Analog Devices in the third quarter worth about $375,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity at Analog Devices

In other news, CFO Richard Puccio, Jr. sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $389.46, for a total transaction of $584,190.00. Following the completion of the transaction, the chief financial officer directly owned 48,177 shares in the company, valued at approximately $18,763,014.42. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vivek Jain sold 3,305 shares of the business's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $406.58, for a total value of $1,343,746.90. Following the transaction, the insider owned 40,428 shares of the company's stock, valued at $16,437,216.24. This trade represents a 7.56% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 52,436 shares of company stock valued at $20,681,906. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADI. KeyCorp boosted their price objective on Analog Devices from $500.00 to $525.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Morgan Stanley lifted their target price on Analog Devices from $428.00 to $458.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Piper Sandler set a $460.00 target price on Analog Devices in a research report on Tuesday, September 8th. Needham & Company LLC boosted their price target on Analog Devices from $440.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Finally, TD Cowen upped their price target on Analog Devices from $460.00 to $475.00 and gave the company a "buy" rating in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $460.55.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $394.66 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.20. Analog Devices, Inc. has a fifty-two week low of $224.25 and a fifty-two week high of $445.91. The firm has a 50-day simple moving average of $391.18 and a 200 day simple moving average of $373.93. The company has a market cap of $191.24 billion, a PE ratio of 36.08, a P/E/G ratio of 0.98 and a beta of 1.24.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. Analog Devices's quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 13.00 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Analog Devices's payout ratio is 52.19%.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.