Bank of America Corp DE Invests $3.57 Billion in Analog Devices, Inc. $ADI

Key Points

• Bank of America acquired 8.996 million Analog Devices shares in the second quarter, valued at approximately $3.57 billion and representing a 1.85% stake. Institutional investors collectively own 86.81% of the company.
• Analyst sentiment is strongly positive: Analog Devices has a consensus “Buy” rating from MarketBeat, with a consensus price target of $457.97. The company recently exceeded quarterly earnings and revenue expectations, reporting $3.45 EPS and $4.02 billion in revenue.
• ADI shares opened at $361.02 after falling 4.7%, while the company maintained its quarterly dividend at $1.10 per share, equivalent to a 1.2% yield. Insiders have sold $14.99 million of stock over the past 90 days, primarily under pre-arranged trading plans.

Bank of America Corp DE acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,996,351 shares of the semiconductor company's stock, valued at approximately $3,573,081,000. Bank of America Corp DE owned 1.85% of Analog Devices as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Analog Devices during the 2nd quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new position in Analog Devices in the 2nd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in Analog Devices in the 2nd quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in Analog Devices during the second quarter worth $33,000. Finally, Banque Transatlantique SA acquired a new position in Analog Devices during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stifel Nicolaus upped their target price on Analog Devices from $450.00 to $498.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Morgan Stanley increased their price objective on shares of Analog Devices from $428.00 to $458.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Fundamental Research set a $550.00 target price on shares of Analog Devices in a report on Monday, June 29th. Weiss Ratings upgraded shares of Analog Devices from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Sunday, May 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $457.97.

Insiders Place Their Bets

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 2,683 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $374.56, for a total value of $1,004,944.48. Following the sale, the chief financial officer directly owned 54,177 shares of the company's stock, valued at approximately $20,292,537.12. This trade represents a 4.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Analog Devices stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $362.85, for a total value of $513,795.60. Following the completion of the sale, the director owned 111,679 shares of the company's stock, valued at $40,522,725.15. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 40,431 shares of company stock valued at $14,987,547. Insiders own 0.36% of the company's stock.

Analog Devices Trading Down 4.7%

Shares of ADI stock opened at $361.02 on Tuesday. The firm has a 50-day moving average price of $374.58 and a 200 day moving average price of $374.84. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The company has a market capitalization of $174.94 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 1.17 and a beta of 1.20. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.11. The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The firm's revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Research analysts forecast 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 will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Analog Devices's 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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