Danica Pension Livsforsikringsaktieselskab Acquires New Position in Analog Devices, Inc. $ADI

Danica Pension Livsforsikringsaktieselskab acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,005 shares of the semiconductor company's stock, valued at approximately $13,506,000.

A number of other institutional investors have also recently bought and sold shares of ADI. Danske Bank A S bought a new stake in shares of Analog Devices during the 2nd quarter valued at $133,834,000. Diversify Advisory Services LLC bought a new position in shares of Analog Devices in the 2nd quarter worth $2,428,000. Wealthfront Advisers LLC acquired a new stake in shares of Analog Devices during the second quarter worth $27,576,000. Cypress Asset Management Inc. TX grew its stake in shares of Analog Devices by 0.3% during the second quarter. Cypress Asset Management Inc. TX now owns 32,748 shares of the semiconductor company's stock worth $13,007,000 after purchasing an additional 83 shares during the period. Finally, Main Street Financial Solutions LLC increased its holdings in Analog Devices by 139.6% in the second quarter. Main Street Financial Solutions LLC now owns 1,507 shares of the semiconductor company's stock valued at $598,000 after purchasing an additional 878 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Argus set a $460.00 target price on Analog Devices in a report on Tuesday, May 26th. Raymond James Financial reaffirmed an "outperform" rating and issued a $430.00 price target on shares of Analog Devices in a research note on Thursday, May 21st. Stifel Nicolaus increased their price target on shares of Analog Devices from $450.00 to $498.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. TD Cowen lifted their price objective on shares of Analog Devices from $450.00 to $460.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Barclays boosted their price objective on shares of Analog Devices from $430.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $441.00.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, SVP Martin Cotter sold 17,594 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were 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 $23,546,776. The trade was a 23.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,630,000.00. Following the transaction, the chief executive officer owned 137,538 shares of the company's stock, valued at approximately $49,926,294. This represents a 6.78% decrease in their ownership of the stock. 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. Insiders have sold a total of 105,274 shares of company stock valued at $42,247,986 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Analog Devices

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

• Positive Sentiment: Analysts expect fiscal Q3 earnings of approximately $3.33 per share, compared with $2.05 per share a year earlier. Several highly rated analysts have recently revised their forecasts, supporting expectations for continued earnings growth. Analog Devices likely to report higher Q3 earnings
• Positive Sentiment: Analog Devices enters the report after record recent revenue, expanding margins and strong free-cash-flow generation. Management previously targeted roughly $3.9 billion of fiscal Q3 revenue and adjusted EPS near $3.30, creating potential for a “beat and raise” reaction if results exceed those targets. Analog Devices stock rises as earnings target approaches
• Positive Sentiment: The industrial segment continues to benefit from factory modernization, electrification and robotics demand. Wall Street sentiment remains broadly favorable, including Cantor Fitzgerald’s reaffirmed Overweight rating and $550 price target. Can ADI's industrial segment sustain growth momentum?

Analog Devices Stock Down 3.5%

Analog Devices stock opened at $376.63 on Wednesday. The company has a 50 day moving average of $390.37 and a 200-day moving average of $370.30. 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, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The stock has a market capitalization of $183.45 billion, a PE ratio of 55.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping 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 analyst estimates of $3.51 billion. During the same period last year, the business posted $1.85 earnings per share. The firm's quarterly revenue was up 37.2% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices, Inc. will post 12.42 EPS for the current fiscal year.

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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