Analog Devices, Inc. $ADI Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in Analog Devices by 16.7% in the fourth quarter, adding 493,116 shares and bringing its holding to 3.45 million shares worth about $934.6 million.
• Several other large institutional investors also boosted positions, and hedge funds and other institutions now own 86.81% of Analog Devices’ stock.
• Analysts remain constructive on ADI: multiple firms raised price targets, and the stock carries a Moderate Buy consensus with an average target of $432.71, while the company also reported earnings and revenue that beat estimates.

Bank of New York Mellon Corp boosted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,446,236 shares of the semiconductor company's stock after purchasing an additional 493,116 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Analog Devices worth $934,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at $2,215,516,000. Amundi lifted its stake in Analog Devices by 44.8% during the 3rd quarter. Amundi now owns 6,215,129 shares of the semiconductor company's stock worth $1,507,740,000 after acquiring an additional 1,922,302 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Analog Devices by 29.2% during the 3rd quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company's stock valued at $1,186,714,000 after acquiring an additional 1,091,004 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Analog Devices by 3,456.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,059,726 shares of the semiconductor company's stock valued at $287,398,000 after acquiring an additional 1,029,927 shares during the period. Finally, Rafferty Asset Management LLC grew its position in Analog Devices by 47.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,802,338 shares of the semiconductor company's stock valued at $428,992,000 after acquiring an additional 580,546 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADI. Benchmark increased their price target on shares of Analog Devices from $285.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Oppenheimer lifted their price objective on shares of Analog Devices from $400.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Sanford C. Bernstein reiterated a "market perform" rating and set a $430.00 target price on shares of Analog Devices in a report on Thursday, May 21st. Stifel Nicolaus raised their price target on shares of Analog Devices from $405.00 to $450.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Finally, Bank of America boosted their price target on shares of Analog Devices from $425.00 to $460.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $432.71.

Insider Activity

In other news, CEO Vincent Roche sold 30,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total value of $12,453,900.00. Following the transaction, the chief executive officer owned 137,538 shares in the company, valued at approximately $57,096,149.94. This represents a 17.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 80,000 shares of company stock worth $31,519,000. Corporate insiders own 0.36% of the company's stock.

Analog Devices Stock Up 3.4%

Shares of Analog Devices stock opened at $437.67 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. Analog Devices, Inc. has a 52-week low of $217.02 and a 52-week high of $439.70. The company has a market capitalization of $213.18 billion, a P/E ratio of 65.03, a P/E/G ratio of 1.19 and a beta of 1.18. The company has a 50 day moving average of $378.66 and a 200 day moving average of $326.65.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.51 billion. Analog Devices had a net margin of 26.01% and a return on equity of 14.37%. The company's revenue was up 37.2% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 12.41 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 2nd. Analog Devices's dividend payout ratio is currently 65.38%.

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.

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.