Greenland Capital Management LP Trims Stake in Analog Devices, Inc. $ADI

Key Points

• Greenland Capital Management cut its Analog Devices stake by 57.7% in the second quarter, selling 6,194 shares and retaining 4,536 shares valued at approximately $1.8 million. Institutional investors overall own 86.81% of ADI.
• Analog Devices reported stronger-than-expected quarterly results, with EPS of $3.45 versus the $3.34 consensus and revenue of $4.02 billion, up 39.2% year over year. The company also declared a quarterly dividend of $1.10 per share, representing a 1.2% yield.
• Wall Street remains bullish, with a consensus “Buy” rating and average price target of $454.63 versus the stock’s reported $362.25 opening price. However, company insiders have sold 41,363 shares worth about $15.5 million over the past 90 days.

Greenland Capital Management LP reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 57.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,536 shares of the semiconductor company's stock after selling 6,194 shares during the quarter. Greenland Capital Management LP's holdings in Analog Devices were worth $1,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverbend Wealth Management LLC increased its position in shares of Analog Devices by 2.2% in 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 during the last quarter. Bridgewater Advisors Inc. raised its stake in Analog Devices by 1.5% in the first quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company's stock valued at $574,000 after purchasing an additional 27 shares in the last quarter. Silicon Valley Capital Partners lifted its position in Analog Devices by 4.2% during the first quarter. Silicon Valley Capital Partners now owns 672 shares of the semiconductor company's stock valued at $214,000 after purchasing an additional 27 shares during the last quarter. Sound Income Strategies LLC lifted its position in Analog Devices by 12.0% during the first quarter. Sound Income Strategies LLC now owns 281 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 30 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

ADI stock opened at $362.25 on Monday. The company has a market capitalization of $175.54 billion, a PE ratio of 42.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The company's 50 day moving average price is $377.17 and its two-hundred day moving average price is $374.17. 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 (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.11. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm's revenue was up 39.2% on a year-over-year basis. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. As a group, analysts predict that Analog Devices, Inc. will post 12.96 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be 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 is Tuesday, September 1st. Analog Devices's dividend payout ratio is presently 52.19%.

Insider Buying and Selling at Analog Devices

In related news, Director Karen Golz sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $374.50, for a total transaction of $374,500.00. Following the transaction, the director directly owned 10,019 shares in the company, valued at $3,752,115.50. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard C. Puccio, Jr. sold 2,683 shares of Analog Devices stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $374.56, for a total value of $1,004,944.48. Following the completion of the transaction, the chief financial officer directly owned 54,177 shares in the company, valued at $20,292,537.12. This trade represents a 4.72% 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. In the last ninety days, insiders have sold 41,363 shares of company stock valued at $15,477,939. Corporate insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on shares of Analog Devices from $450.00 to $675.00 and gave the stock an "outperform" rating in a report on Monday, August 24th. Evercore reiterated an "outperform" rating and issued a $474.00 target price on shares of Analog Devices in a research report on Thursday, May 21st. BMO Capital Markets started coverage on Analog Devices in a research note on Thursday, August 20th. They issued an "outperform" rating and a $430.00 target price on the stock. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. Finally, KeyCorp raised their price target on Analog Devices from $500.00 to $525.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $454.63.

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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