Analog Devices, Inc. $ADI Stock Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its Analog Devices stake by 29% in the third quarter, selling 15,214 shares and retaining 37,224 shares worth approximately $14.8 million. Institutional investors collectively own 86.81% of ADI.
• Analog Devices reported quarterly EPS of $3.45 and revenue of $4.02 billion, exceeding analyst expectations; revenue increased 39.2% year over year. The company also declared a quarterly dividend of $1.10 per share, equivalent to a 1.1% yield.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $460.09. Recent targets range from $462 to $675, while insiders have sold 50,936 shares worth about $19.4 million over the past three months.

First Citizens Bank & Trust Co. reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 29.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,224 shares of the semiconductor company's stock after selling 15,214 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Analog Devices were worth $14,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Riverbend Wealth Management LLC increased its stake in Analog Devices by 2.2% during the first quarter. Riverbend Wealth Management LLC now owns 1,245 shares of the semiconductor company's stock worth $396,000 after acquiring an additional 27 shares during the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Analog Devices by 1.5% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company's stock valued at $574,000 after purchasing an additional 27 shares in the last quarter. Silicon Valley Capital Partners lifted its stake in shares of Analog Devices by 4.2% in the 1st quarter. Silicon Valley Capital Partners now owns 672 shares of the semiconductor company's stock valued at $214,000 after purchasing an additional 27 shares in the last quarter. Cornerstone Financial Management LLC grew its holdings in shares of Analog Devices by 54.9% during the 2nd quarter. Cornerstone Financial Management LLC now owns 79 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 28 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of Analog Devices by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 281 shares of the semiconductor company's stock worth $90,000 after purchasing an additional 30 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Analog Devices news, insider Vivek Jain sold 3,305 shares of the business's stock in a transaction on Thursday, October 8th. The shares were 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 in the company, valued at $16,437,216.24. The trade was a 7.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 2,683 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $374.56, for a total transaction 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. This represents a 4.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 50,936 shares of company stock worth $19,430,764. 0.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Fundamental Research set a $550.00 target price on shares of Analog Devices in a research report on Monday, June 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $510.00 price target (up from $400.00) on shares of Analog Devices in a research report on Tuesday, September 8th. Robert W. Baird lifted their price target on shares of Analog Devices from $450.00 to $675.00 and gave the company an "outperform" rating in a research report on Monday, August 24th. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $450.00 to $498.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Finally, Evercore dropped their price objective on shares of Analog Devices from $474.00 to $462.00 and set an "outperform" rating for the company in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $460.09.

Analog Devices Price Performance

ADI stock opened at $414.70 on Wednesday. The firm has a market cap of $200.95 billion, a P/E ratio of 49.19, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25. Analog Devices, Inc. has a 1 year low of $223.47 and a 1 year high of $445.91. The stock has a 50-day simple moving average of $381.59 and a 200-day simple moving average of $385.14.

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 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 return on equity of 16.39% and a net margin of 29.79%. Analog Devices's revenue for the quarter was up 39.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, equities analysts predict that Analog Devices, Inc. will post 12.96 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

About Analog Devices

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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