Elevation Point Wealth Partners LLC Raises Stock Position in Analog Devices, Inc. $ADI

Key Points

• Elevation Point Wealth Partners increased its stake in Analog Devices by 171.8% in the first quarter, bringing its holdings to 25,224 shares worth about $8.0 million.
• Analog Devices reported strong quarterly results, with EPS of $3.09 and revenue of $3.62 billion, both topping analyst expectations and up sharply from a year earlier.
• Despite the solid fundamentals, shares were down 3% and insiders have been selling stock, including recent sales by Director Karen Golz and SVP Martin Cotter.

Elevation Point Wealth Partners LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 171.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 25,224 shares of the semiconductor company's stock after acquiring an additional 15,945 shares during the period. Elevation Point Wealth Partners LLC's holdings in Analog Devices were worth $8,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverbend Wealth Management LLC increased its stake in shares of Analog Devices by 2.2% during the first quarter. Riverbend Wealth Management LLC now owns 1,245 shares of the semiconductor company's stock worth $396,000 after purchasing an additional 27 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Analog Devices by 12.0% in the 1st quarter. Sound Income Strategies LLC now owns 281 shares of the semiconductor company's stock valued at $90,000 after buying an additional 30 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Analog Devices by 5.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 671 shares of the semiconductor company's stock worth $182,000 after buying an additional 32 shares during the last quarter. Covestor Ltd boosted its holdings in Analog Devices by 14.1% in the 4th quarter. Covestor Ltd now owns 275 shares of the semiconductor company's stock worth $75,000 after buying an additional 34 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC increased its stake in Analog Devices by 3.4% during the 1st quarter. Kohmann Bosshard Financial Services LLC now owns 1,026 shares of the semiconductor company's stock worth $326,000 after buying an additional 34 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 3.0%

Shares of Analog Devices stock opened at $377.16 on Friday. The stock has a market cap of $183.71 billion, a P/E ratio of 56.04, a P/E/G ratio of 1.09 and a beta of 1.18. The stock's 50 day simple moving average is $409.48 and its 200-day simple moving average is $349.05. Analog Devices, Inc. has a 1-year low of $218.37 and a 1-year high of $445.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 1.34.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.20. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business earned $1.85 earnings per share. The business's revenue was up 37.2% compared to the same quarter last year. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. Analysts predict that Analog Devices, Inc. will post 12.41 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on ADI shares. The Goldman Sachs Group reissued a "buy" rating and set a $450.00 target price on shares of Analog Devices in a report on Wednesday, May 20th. Fundamental Research set a $550.00 price target on Analog Devices in a research report on Monday. Argus set a $460.00 price objective on Analog Devices in a research note on Tuesday, May 26th. Stifel Nicolaus raised their price objective on Analog Devices from $450.00 to $498.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Finally, KeyCorp lifted their target price on shares of Analog Devices from $430.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $439.79.

Insider Buying and Selling

In other news, Director Karen Golz sold 1,000 shares of Analog Devices stock in a transaction on Friday, June 12th. The stock was sold at an average price of $411.95, for a total transaction of $411,950.00. Following the transaction, the director owned 12,019 shares in the company, valued at $4,951,227.05. The trade was a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the senior vice president directly owned 56,332 shares in the company, valued at approximately $23,546,776. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,442 shares of company stock valued at $37,241,554 over the last 90 days. Insiders own 0.36% of the company's stock.

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.

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