Auto Owners Insurance Co Acquires 344,505 Shares of Analog Devices, Inc. $ADI

Key Points

• Auto Owners Insurance Co sharply increased its stake in Analog Devices, buying 344,505 shares in the fourth quarter and ending with 345,780 shares valued at about $9.4 million.
• Analog Devices reported better-than-expected quarterly results, posting EPS of $3.09 versus estimates of $2.89 and revenue of $3.62 billion, up 37.2% year over year.
• Analysts remain generally bullish, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” with an average target price of $432.71.

Auto Owners Insurance Co grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 27,020.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 345,780 shares of the semiconductor company's stock after acquiring an additional 344,505 shares during the quarter. Auto Owners Insurance Co owned 0.07% of Analog Devices worth $9,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Analog Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 50,893,276 shares of the semiconductor company's stock worth $13,802,256,000 after purchasing an additional 503,970 shares during the period. State Street Corp boosted its position in Analog Devices by 0.4% during the fourth quarter. State Street Corp now owns 23,487,584 shares of the semiconductor company's stock valued at $6,369,833,000 after buying an additional 88,538 shares during the period. Morgan Stanley boosted its position in Analog Devices by 1.9% during the fourth quarter. Morgan Stanley now owns 10,450,624 shares of the semiconductor company's stock valued at $2,834,210,000 after buying an additional 194,535 shares during the period. Bank of America Corp DE grew its stake in shares of Analog Devices by 42.8% during the fourth quarter. Bank of America Corp DE now owns 9,715,095 shares of the semiconductor company's stock valued at $2,634,734,000 after buying an additional 2,912,666 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at about $2,215,516,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $434.46 on Friday. The business has a 50 day moving average of $401.55 and a 200 day moving average of $340.66. Analog Devices, Inc. has a 52 week low of $218.37 and a 52 week high of $439.70. The company has a market cap of $211.62 billion, a PE ratio of 64.56, a P/E/G ratio of 1.22 and a beta of 1.18. 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 (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.20. Analog Devices had a net margin of 26.01% and a return on equity of 14.37%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm earned $1.85 EPS. The company's quarterly revenue was up 37.2% compared to the same quarter last year. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 12.41 earnings per share for the current year.

Analog Devices Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Analog Devices from $364.00 to $405.00 and gave the company a "hold" rating in a research note on Wednesday, May 20th. Wells Fargo & Company raised their price target on Analog Devices from $470.00 to $515.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. KeyCorp lifted their price target on Analog Devices from $430.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Finally, Oppenheimer raised their target price 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $432.71.

Insider Activity at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 17,594 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the sale, the senior vice president directly owned 56,332 shares of the company's stock, valued at approximately $23,546,776. The trade was a 23.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 30,000 shares of the company's stock in a transaction that occurred on 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 $57,096,149.94. This trade represents a 17.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 101,442 shares of company stock worth $40,422,954 over the last ninety days. Corporate insiders own 0.36% of the company's stock.

Analog Devices Company Profile

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.

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