Bank of Nova Scotia Takes $90.24 Million Position in Analog Devices, Inc. $ADI

Key Points

• Bank of Nova Scotia acquired 227,200 Analog Devices shares during the second quarter, establishing a position worth approximately $90.24 million. Institutional investors collectively own 86.81% of ADI’s outstanding stock.
• Analog Devices reported strong quarterly results, with revenue rising 39.2% year over year to $4.02 billion and adjusted EPS of $3.45, beating consensus estimates. Growth in AI infrastructure and data-center applications is supporting the company’s outlook, including fiscal fourth-quarter EPS guidance of $3.71 to $4.01.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $447.13, although insiders have sold 75,274 shares worth about $30.34 million over the past 90 days. ADI opened at $373.09 and pays a quarterly dividend of $1.10, equivalent to a 1.2% yield.

Bank of Nova Scotia acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 227,200 shares of the semiconductor company's stock, valued at approximately $90,237,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Analog Devices during the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new position in Analog Devices in the second quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Analog Devices during the 4th quarter worth $26,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Analog Devices during the 4th quarter worth $27,000. Finally, Evolution Wealth Management Inc. bought a new stake in shares of Analog Devices during the 1st quarter valued at $30,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADI. The Goldman Sachs Group restated a "buy" rating and issued a $480.00 price objective on shares of Analog Devices in a research note on Wednesday. Oppenheimer upped their price target on Analog Devices from $400.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Evercore reaffirmed an "outperform" rating and issued a $474.00 price objective on shares of Analog Devices in a research note on Thursday, May 21st. Robert W. Baird lifted their price objective on Analog Devices from $365.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein upgraded Analog Devices from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $430.00 to $465.00 in a research note on Wednesday. Two investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $447.13.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the completion of the transaction, the chief executive officer owned 137,538 shares of the company's stock, valued at $49,926,294. This represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total value of $7,354,292.00. Following the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 75,274 shares of company stock valued at $30,343,386. 0.36% of the stock is currently owned by insiders.

More Analog Devices News

Here are the key news stories impacting Analog Devices this week:

• Positive Sentiment: Strong earnings and guidance: ADI reported record fiscal Q3 revenue of $4.02 billion, up about 40% year over year and ahead of the $3.92 billion consensus estimate. Adjusted EPS of $3.45 also exceeded expectations. Management’s fiscal Q4 EPS outlook of $3.71 to $4.01 points to continued momentum. Analog Devices Q3 Earnings Beat Estimates, Revenues Rise Y/Y
• Positive Sentiment: AI and data-center growth: Revenue from data-center applications reportedly more than doubled, while demand tied to AI infrastructure, power management, optical connectivity and energy systems is creating a multiyear growth opportunity. Management highlighted a potential 100-gigawatt data-center buildout by 2031. Analog Devices Q3 Earnings Call Highlights AI Power Growth Runway
• Positive Sentiment: Broad analyst support: JPMorgan raised its price target to $500 and maintained an Overweight rating. Needham, TD Cowen and Susquehanna also reiterated Buy-equivalent ratings, with targets ranging from $450 to $475. These revisions reflect confidence in AI demand, margin expansion and an improving industrial recovery. Analog Devices Is Cashing in on the AI Boom
• Neutral Sentiment: Relative investment appeal: Comparisons with Texas Instruments and dividend-focused AI investment ideas portray ADI as a financially solid way to gain analog-chip and AI exposure, though they do not represent new company-specific catalysts. ADI vs. TXN: Which Analog Processing Chip Stock Has an Edge Right Now?
• Negative Sentiment: Macro and valuation risks: Semiconductor stocks faced pressure from a sharp rise in the 30-year Treasury yield, which can weigh on high-valuation growth shares. One analysis also downgraded ADI, arguing that multiple contraction and elevated expectations could limit gains despite strong fundamentals. Chip Stocks Fell on Higher Treasury Yields

Analog Devices Stock Up 0.8%

NASDAQ ADI opened at $373.09 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. Analog Devices, Inc. has a 12 month low of $223.47 and a 12 month high of $445.91. The stock's 50 day moving average is $388.25 and its 200 day moving average is $371.11. The stock has a market cap of $180.79 billion, a PE ratio of 44.26, a P/E/G ratio of 0.95 and a beta of 1.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.11. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company's revenue for the quarter was up 39.2% compared to the same quarter last year. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Research analysts predict that Analog Devices, Inc. will post 12.96 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Analog Devices 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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