Covenant Asset Management LLC Acquires New Stake in Analog Devices, Inc. $ADI

Key Points

• Covenant Asset Management initiated a new stake in Analog Devices (ADI) of 9,218 shares in Q4, worth roughly $2.5M, as institutional investors now own about 86.8% of the stock.
• ADI beat Q4 expectations (EPS $2.46 vs $2.31 est.; revenue $3.16B, +30.4% y/y) and set Q2 FY2026 EPS guidance of $2.73–$3.03, prompting several price-target raises and a consensus rating of Moderate Buy (avg. target ~$370.7).
• Company insiders have been net sellers—27,324 shares (~$8.76M) sold in the last 90 days—while Analog Devices increased its quarterly dividend to $1.10 (annualized $4.40, ~1.1% yield).

Covenant Asset Management LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,218 shares of the semiconductor company's stock, valued at approximately $2,500,000.

Other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in Analog Devices in the 3rd quarter valued at approximately $32,000. LFA Lugano Financial Advisors SA boosted its position in Analog Devices by 92.9% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Albion Financial Group UT grew its stake in shares of Analog Devices by 41.4% during the 4th quarter. Albion Financial Group UT now owns 123 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 36 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Analog Devices by 61.3% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 129 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $38,000. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $317.30, for a total value of $991,562.50. Following the transaction, the director owned 123,821 shares in the company, valued at approximately $39,288,403.30. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Sondel sold 4,199 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $361.02, for a total transaction of $1,515,922.98. Following the sale, the chief accounting officer owned 14,740 shares of the company's stock, valued at $5,321,434.80. This trade represents a 22.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,324 shares of company stock worth $8,758,085. 0.36% of the stock is owned by insiders.

Analog Devices Stock Down 2.4%

Shares of ADI stock opened at $383.28 on Wednesday. Analog Devices, Inc. has a 52-week low of $186.73 and a 52-week high of $408.37. The stock has a market cap of $187.12 billion, a price-to-earnings ratio of 70.07, a PEG ratio of 1.58 and a beta of 1.05. The firm's 50-day moving average is $339.55 and its 200-day moving average is $297.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.35 and a current ratio of 1.76.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The semiconductor company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.15. Analog Devices had a return on equity of 12.49% and a net margin of 23.02%.The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. Analog Devices has set its Q2 2026 guidance at 2.730-3.030 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 11.35 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were given a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a boost from Analog Devices's previous quarterly dividend of $0.99. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. Analog Devices's payout ratio is currently 80.44%.

Key Headlines Impacting Analog Devices

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

• Positive Sentiment: ADI is singled out in analyst/feature pieces as a semiconductor beneficiary of the AI-led cycle and stronger earnings momentum, supporting upside over time. AI and earnings set semiconductor stocks on record rally
• Positive Sentiment: Macro/sector theme: MarketBeat highlights an industrial‑chips “supercycle” that could lift industrial/analog names for years — a tailwind for ADI given its industrial and mixed-signal exposure. Industrial Chips Are in Rally Mode—5 Ways to Play
• Positive Sentiment: Company fundamentals remain supportive: ADI’s recent quarterly results showed strong revenue growth and solid margins, and management set Q2 FY2026 EPS guidance in a constructive range — a positive fundamental backdrop versus peers.
• Neutral Sentiment: Peer results — NXP’s Q1 beat on revenue and EPS underscores persistent end-market demand for chips; this validates industry strength but doesn’t directly change ADI’s near-term guidance. NXP Semiconductors Q1 Earnings and Revenues Top Estimates
• Neutral Sentiment: Other analog/audio peer performance (Cirrus Logic) shows product-mix wins can lift niche players; informative for competitive dynamics but only indirectly relevant to ADI. Is Cirrus Logic's Product Mix Boosting Its Performance?
• Negative Sentiment: Stock technical/flow pressure: recent headlines note ADI is trading down and has underperformed peers on the latest session, which can amplify short-term selling. Analog Devices (ADI) Dips More Than Broader Market
• Negative Sentiment: Cluster of media pieces flagging ADI among several falling chip names — contributes to negative sentiment and potential momentum outflows even if fundamentals remain solid. Nova, Analog Devices, and Qorvo shares are falling
• Negative Sentiment: Coverage noting ADI underperformed peers could increase short-term downside risk from relative-rotation trades and quant/ETF rebalancing. Analog Devices Inc. stock underperforms

Analysts Set New Price Targets

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $320.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, February 19th. Needham & Company LLC upgraded shares of Analog Devices from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Thursday, February 19th. Evercore restated an "outperform" rating and issued a $387.00 price objective on shares of Analog Devices in a report on Thursday, February 19th. Stifel Nicolaus set a $405.00 target price on Analog Devices and gave the company a "buy" rating in a research report on Wednesday, February 18th. Finally, Citigroup reissued a "buy" rating on shares of Analog Devices in a research report on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $370.69.

About Analog Devices

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.