Legal & General Group Plc Acquires Shares of 3,840,086 Analog Devices, Inc. $ADI

Key Points

• Legal & General Group Plc acquired 3.84 million Analog Devices shares worth approximately $1.53 billion, giving it a 0.79% stake. Institutional investors collectively own 86.81% of ADI.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $454.63; several firms recently raised targets to as high as $500.
• Analog Devices exceeded quarterly expectations, reporting $3.45 in adjusted EPS and $4.02 billion in revenue, up 39.2% year over year. The company also declared a quarterly dividend of $1.10 per share, yielding about 1.2% annually.

Legal & General Group Plc acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,840,086 shares of the semiconductor company's stock, valued at approximately $1,525,167,000. Legal & General Group Plc owned about 0.79% of Analog Devices as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after acquiring an additional 529 shares during the period. Sivia Capital Partners LLC grew its position in shares of Analog Devices by 36.0% during the second quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company's stock worth $417,000 after acquiring an additional 464 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Analog Devices by 38.0% in the 2nd quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company's stock valued at $10,610,000 after acquiring an additional 12,276 shares during the period. HUB Investment Partners LLC purchased a new stake in Analog Devices in the 2nd quarter valued at $644,000. Finally, Peapack Gladstone Financial Corp boosted its stake in Analog Devices by 2.4% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company's stock worth $14,322,000 after purchasing an additional 1,406 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADI. TD Cowen restated a "buy" rating and issued a $460.00 price objective on shares of Analog Devices in a research note on Thursday, August 20th. Bank of America raised their price target on Analog Devices from $425.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $480.00 price objective on shares of Analog Devices in a research note on Wednesday, August 19th. Wells Fargo & Company decreased their price objective on Analog Devices from $515.00 to $500.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $450.00 to $500.00 and gave the company an "overweight" rating in a research note 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $454.63.

Analog Devices Stock Performance

Shares of ADI stock opened at $371.17 on Tuesday. The company has a market cap of $179.86 billion, a price-to-earnings ratio of 44.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.20. The stock has a 50 day simple moving average of $387.12 and a 200-day simple moving average of $371.92. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20.

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

Analog Devices Announces Dividend

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

Insider Activity at Analog Devices

In other news, Director Karen Golz sold 1,000 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $389.83, for a total value of $389,830.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $363.00, for a total transaction 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 $49,926,294. This trade represents a 6.78% decrease in their position. 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 quarter, insiders sold 45,274 shares of company stock valued at $17,889,486. Company 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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