Analog Devices, Inc. $ADI Stock: Assenagon Asset Management S.A. Raises Stake

Key Points

• Assenagon Asset Management increased its Analog Devices stake by 76.4% in the third quarter, acquiring 403,967 additional shares and ending with 932,897 shares worth approximately $370.1 million. Institutional investors collectively own 86.81% of ADI.
• Analog Devices reported quarterly earnings of $3.45 per share and revenue of $4.02 billion, exceeding analyst expectations; revenue rose 39.2% year over year. The company also maintains a $1.10 quarterly dividend, equal to a 1.1% yield.
• Analyst sentiment remains positive, with 29 Buy ratings and one Strong Buy among recent coverage. The stock has an average analyst price target of $460.09, compared with its reported price of $403.95.

Assenagon Asset Management S.A. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 76.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 932,897 shares of the semiconductor company's stock after purchasing an additional 403,967 shares during the period. Assenagon Asset Management S.A. owned 0.19% of Analog Devices worth $370,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADI. BlackRock Inc. acquired a new stake in shares of Analog Devices in the second quarter valued at approximately $18,610,868,000. Bank of America Corp DE acquired a new position in shares of Analog Devices during the second quarter worth approximately $3,573,081,000. Van ECK Associates Corp boosted its position in shares of Analog Devices by 24.7% during the second quarter. Van ECK Associates Corp now owns 8,422,883 shares of the semiconductor company's stock worth $3,345,316,000 after buying an additional 1,670,957 shares during the period. Amundi boosted its position in shares of Analog Devices by 5.3% during the first quarter. Amundi now owns 5,044,271 shares of the semiconductor company's stock worth $1,604,771,000 after buying an additional 254,632 shares during the period. Finally, Legal & General Group Plc bought a new position in Analog Devices in the 2nd quarter worth approximately $1,525,167,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 0.1%

Analog Devices stock opened at $403.95 on Friday. The stock has a market cap of $195.74 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 1.25 and a beta of 1.22. 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 company's 50-day moving average price is $382.64 and its two-hundred day moving average price is $386.46. Analog Devices, Inc. has a 52 week low of $223.47 and a 52 week high of $445.91.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.11. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. Analog Devices's revenue was up 39.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, analysts expect that Analog Devices, Inc. will post 12.96 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid 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 was Tuesday, September 1st. Analog Devices's dividend payout ratio (DPR) is currently 52.19%.

Insider Activity

In related news, insider Vivek Jain sold 3,305 shares of the business'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 sale, the insider owned 40,428 shares of the company's stock, valued at $16,437,216.24. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katsufumi Nakamura sold 1,200 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $415.02, for a total value of $498,024.00. Following the completion of the sale, the insider owned 14,849 shares of the company's stock, valued at $6,162,631.98. This trade represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,936 shares of company stock valued at $19,430,764 over the last 90 days. Corporate insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADI shares. Morgan Stanley increased their price objective on Analog Devices from $428.00 to $458.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Weiss Ratings raised Analog Devices from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. JPMorgan Chase & Co. lifted their target price on Analog Devices from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. KeyCorp boosted their price target on Analog Devices from $500.00 to $525.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Finally, TD Cowen reissued a "buy" rating and issued a $460.00 price target (up from $450.00) on shares of Analog Devices in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $460.09.

Analog Devices Company Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that develops technologies for converting, conditioning and processing real-world signals. Its products connect the physical and digital worlds by helping electronic systems sense, measure, interpret and control information such as temperature, pressure, motion, sound and electrical current.

The company's product portfolio includes analog and mixed-signal integrated circuits, power management solutions, radio-frequency and microwave devices, data converters, amplifiers, sensors, microcontrollers, embedded processors and connectivity products.

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