Analog Devices, Inc. $ADI Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group reduced its Analog Devices position by 0.8% in the second quarter, selling 3,505 shares and retaining 440,359 shares worth approximately $174.9 million. Institutional investors collectively own 86.81% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $457.97; several firms recently raised targets to between $450 and $480.
• Analog Devices exceeded quarterly expectations with adjusted EPS of $3.45 and revenue of $4.02 billion, while announcing a quarterly dividend of $1.10 per share, equivalent to a 1.2% yield.

Baird Financial Group Inc. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 440,359 shares of the semiconductor company's stock after selling 3,505 shares during the quarter. Baird Financial Group Inc. owned approximately 0.09% of Analog Devices worth $174,898,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in shares of Analog Devices during the 2nd quarter worth $25,000. Manning & Napier Advisors LLC purchased a new position in Analog Devices during the second quarter worth about $25,000. Dunhill Financial LLC purchased a new position in Analog Devices during the second quarter worth about $32,000. Cornerstone Financial Management LLC boosted its holdings in Analog Devices by 54.9% in the 2nd quarter. Cornerstone Financial Management LLC now owns 79 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 28 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Analog Devices in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

ADI has been the subject of a number of recent analyst reports. Oppenheimer raised their price target on shares of Analog Devices from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Evercore reiterated an "outperform" rating and issued a $474.00 price objective on shares of Analog Devices in a research report on Thursday, May 21st. Citigroup raised their target price on Analog Devices from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. The Goldman Sachs Group restated a "buy" rating and issued a $480.00 target price on shares of Analog Devices in a research report on Wednesday, August 19th. Finally, Sanford C. Bernstein raised Analog Devices from a "market perform" rating to an "outperform" rating and upped their price target for the company from $430.00 to $465.00 in a research note on Wednesday, August 19th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $457.97.

Insider Activity

In related news, CFO Richard Puccio, Jr. sold 2,683 shares of Analog Devices stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $374.56, for a total value of $1,004,944.48. Following the completion of the transaction, the chief financial officer owned 54,177 shares in the company, valued at $20,292,537.12. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $377.37, for a total transaction of $534,355.92. Following the transaction, the director owned 114,511 shares of the company's stock, valued at $43,213,016.07. This trade represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,515 shares of company stock worth $14,340,227 in the last ninety days. 0.36% of the stock is owned by insiders.

Analog Devices Stock Up 0.3%

Shares of NASDAQ:ADI opened at $363.20 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 0.91. The firm has a market capitalization of $175.99 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The firm's 50-day moving average is $375.90 and its two-hundred day moving average is $374.46. Analog Devices, Inc. has a 1 year low of $223.47 and a 1 year high of $445.91.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.34 by $0.11. The business had revenue of $4.02 billion during 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%. The business's revenue for the quarter was up 39.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Analysts predict that Analog Devices, Inc. will post 12.96 EPS for the current year.

Analog Devices Announces Dividend

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

About Analog Devices

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures high-performance analog, mixed-signal, power-management and radio-frequency integrated circuits. Its technologies help convert real-world signals—such as temperature, pressure, sound, motion and light—into data that electronic systems can process and use.

The company offers data converters, amplifiers, power-management products, sensors, embedded processors, connectivity solutions and other semiconductor components.

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