Eastern Bank Raises Stock Holdings in Analog Devices, Inc. $ADI

Key Points

• Eastern Bank increased its Analog Devices stake by 5.8% in the second quarter, adding 9,760 shares to hold 179,103 shares valued at approximately $71.1 million. Institutional investors collectively own 86.81% of ADI.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and a consensus price target of $441. Several firms recently raised targets as high as $550.
• Analog Devices reported quarterly earnings of $3.09 per share, exceeding estimates, while revenue rose 37.2% year over year to $3.62 billion. The company also maintains a quarterly dividend of $1.10 per share, yielding about 1.2%.

Eastern Bank increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,103 shares of the semiconductor company's stock after purchasing an additional 9,760 shares during the quarter. Analog Devices makes up approximately 1.1% of Eastern Bank's holdings, making the stock its 26th largest holding. Eastern Bank's holdings in Analog Devices were worth $71,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $2,215,516,000. Bank of America Corp DE lifted 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 period. Amundi lifted its stake in shares of Analog Devices by 44.8% during the third quarter. Amundi now owns 6,215,129 shares of the semiconductor company's stock valued at $1,507,740,000 after buying an additional 1,922,302 shares during the period. Raymond James Financial Inc. boosted its position in Analog Devices by 29.2% during the third quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company's stock worth $1,186,714,000 after acquiring an additional 1,091,004 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Analog Devices by 3,456.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,059,726 shares of the semiconductor company's stock worth $287,398,000 after acquiring an additional 1,029,927 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADI shares. Wolfe Research reiterated an "outperform" rating and issued a $475.00 price target on shares of Analog Devices in a report on Thursday, May 21st. Argus set a $460.00 price objective on Analog Devices in a report on Tuesday, May 26th. Cantor Fitzgerald raised their price objective on Analog Devices from $510.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. TD Cowen upped their target price on Analog Devices from $450.00 to $460.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Finally, Fundamental Research set a $550.00 target price on Analog Devices in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $441.00.

Analog Devices Trading Down 1.5%

ADI stock opened at $361.88 on Tuesday. Analog Devices, Inc. has a 52 week low of $218.37 and a 52 week high of $445.91. The company has a market cap of $176.27 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 0.95 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $397.48 and a 200-day simple moving average of $364.13.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.89 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.51 billion. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The company's revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 earnings per share. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 12.42 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, June 2nd. Analog Devices's dividend payout ratio is 65.38%.

Insiders Place Their Bets

In related news, SVP Martin Cotter sold 17,594 shares of the company's stock in a transaction on 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 sale, the senior vice president directly owned 56,332 shares of the company's stock, valued at $23,546,776. This represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen Golz sold 1,000 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $389.83, for a total transaction of $389,830.00. Following the transaction, the director owned 11,019 shares in the company, valued at $4,295,536.77. This trade represents a 8.32% 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. In the last 90 days, insiders have sold 93,858 shares of company stock valued at $38,083,630. Corporate insiders own 0.36% of the company's stock.

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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