Engineers Gate Manager LP Has $966,000 Position in Analog Devices, Inc. $ADI

Key Points

• Engineers Gate Manager LP reduced its Analog Devices position by 96.1% in the second quarter, selling 60,569 shares and retaining 2,433 shares valued at approximately $966,000.
• Analysts remain broadly bullish, with the stock carrying an average “Buy” rating and a consensus price target of $457.97; recent firms raised targets as high as $498.
• Analog Devices exceeded quarterly expectations with $3.45 in EPS and $4.02 billion in revenue, up 39.2% year over year, while maintaining a quarterly dividend of $1.10 per share.

Engineers Gate Manager LP cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 96.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,433 shares of the semiconductor company's stock after selling 60,569 shares during the period. Engineers Gate Manager LP's holdings in Analog Devices were worth $966,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. ING Groep NV grew its stake in shares of Analog Devices by 45.1% during the 4th quarter. ING Groep NV now owns 222,559 shares of the semiconductor company's stock worth $60,358,000 after acquiring an additional 69,202 shares in the last quarter. Natixis Advisors LLC lifted its position in Analog Devices by 2.4% during the 4th quarter. Natixis Advisors LLC now owns 1,002,286 shares of the semiconductor company's stock worth $271,791,000 after buying an additional 23,531 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Analog Devices by 108.5% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 20,464 shares of the semiconductor company's stock worth $6,511,000 after buying an additional 10,648 shares during the last quarter. National Pension Service grew its holdings in shares of Analog Devices by 0.5% in the 4th quarter. National Pension Service now owns 1,354,027 shares of the semiconductor company's stock valued at $367,212,000 after acquiring an additional 6,492 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $4,355,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADI. Seaport Research Partners upgraded Analog Devices from a "neutral" rating to a "buy" rating and set a $425.00 price target for the company in a report on Thursday, August 20th. Morgan Stanley raised their target price on shares of Analog Devices from $428.00 to $458.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Wells Fargo & Company reduced their price objective on Analog Devices from $515.00 to $500.00 and set an "overweight" rating for the company in a report on Thursday, August 20th. Needham & Company LLC boosted their price target on Analog Devices from $440.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Finally, Stifel Nicolaus upped 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. Two 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 has an average rating of "Buy" and an average price target of $457.97.

Insider Buying and Selling

In other news, 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 value of $3,630,000.00. Following the completion of the sale, 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,416 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $362.85, for a total transaction of $513,795.60. Following the sale, the director directly owned 111,679 shares of the company's stock, valued at $40,522,725.15. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,431 shares of company stock valued at $14,987,547 over the last 90 days. 0.36% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $375.72 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. The company has a market cap of $182.06 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.20. The company has a 50 day moving average of $372.74 and a 200-day moving average of $374.95. Analog Devices, Inc. has a 1-year low of $223.47 and a 1-year high of $445.91.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.11. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.92 billion. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%.Analog Devices's revenue was up 39.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 12.96 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Analog Devices's dividend payout ratio (DPR) is currently 52.19%.

Analog Devices Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures high-performance analog, mixed-signal, power-management and radio-frequency integrated circuits. Its technologies help convert real-world signals—such as temperature, pressure, sound, motion and light—into data that electronic systems can process and use.

The company offers data converters, amplifiers, power-management products, sensors, embedded processors, connectivity solutions and other semiconductor components.

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