Glenview Trust Co Acquires New Holdings in Analog Devices, Inc. $ADI

Key Points

• Glenview Trust Co. acquired 65,957 shares of Analog Devices during the second quarter, valued at approximately $26.2 million. Institutional investors and hedge funds collectively own 86.81% of the company.
• Analog Devices reported quarterly earnings of $3.45 per share on $4.02 billion in revenue, exceeding analyst estimates, while revenue increased 39.2% year over year.
• Analysts maintain a favorable outlook, with the stock carrying an average “Buy” rating and a $454.63 price target. The company also announced a quarterly dividend of $1.10 per share, representing a 1.2% yield.

Glenview Trust Co bought a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 65,957 shares of the semiconductor company's stock, valued at approximately $26,196,000.

Several other hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in shares of Analog Devices in the fourth quarter worth about $25,000. Contravisory Investment Management Inc. bought a new position in shares of Analog Devices during the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $26,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $27,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, SVP Martin Cotter sold 17,594 shares of the firm'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 completion of the transaction, the senior vice president owned 56,332 shares of the company's stock, valued at approximately $23,546,776. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 1,432 shares of Analog Devices stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $400.83, for a total transaction of $573,988.56. Following the completion of the sale, the director owned 120,175 shares in the company, valued at $48,169,745.25. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,957 shares of company stock valued at $18,894,431 in the last three months. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 report on Thursday, August 20th. Weiss Ratings upgraded shares of Analog Devices from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Fundamental Research set a $550.00 price objective on shares of Analog Devices in a research report on Monday, June 29th. Citigroup raised their price objective on shares of Analog Devices from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $454.63.

Analog Devices Stock Up 0.7%

Shares of Analog Devices stock opened at $374.52 on Friday. The firm has a market cap of $181.48 billion, a PE ratio of 44.43, a P/E/G ratio of 0.76 and a beta of 1.20. The business's 50 day simple moving average is $384.22 and its 200 day simple moving average is $373.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25. Analog Devices, Inc. has a 52-week low of $223.47 and a 52-week high of $445.91.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, September 1st. This represents a $4.40 annualized dividend and a yield of 1.2%. Analog Devices's dividend payout ratio is presently 52.19%.

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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