Mattern Capital Management LLC Sells 20,895 Shares of Analog Devices, Inc. $ADI

Key Points

• Mattern Capital Management cut its stake in Analog Devices by 44.1% in the first quarter, selling 20,895 shares and leaving it with 26,524 shares valued at about $8.44 million.
• Wall Street sentiment remains positive, with several firms raising price targets; the stock currently carries a Moderate Buy consensus and an average target price of $440.14.
• Analog Devices reported stronger-than-expected quarterly results, including EPS of $3.09 on revenue of $3.62 billion, and it also paid a quarterly dividend of $1.10 per share.

Mattern Capital Management LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,524 shares of the semiconductor company's stock after selling 20,895 shares during the period. Mattern Capital Management LLC's holdings in Analog Devices were worth $8,438,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in Analog Devices in the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $26,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Analog Devices during the 4th quarter valued at approximately $27,000. Evolution Wealth Management Inc. purchased a new position in shares of Analog Devices in the first quarter valued at $30,000. Finally, Albion Financial Group UT grew its holdings in shares of Analog Devices by 41.4% in the fourth quarter. Albion Financial Group UT now owns 123 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 36 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADI. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $470.00 to $515.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. TD Cowen lifted their price objective on shares of Analog Devices from $450.00 to $460.00 and gave the stock a "buy" rating in a research note on Monday. Argus set a $460.00 target price on shares of Analog Devices in a report on Tuesday, May 26th. Finally, Barclays upped their target price on shares of Analog Devices from $430.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $440.14.

Analog Devices Trading Down 2.4%

ADI opened at $386.01 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average is $408.54 and its two-hundred day moving average is $354.50. The company has a market capitalization of $188.02 billion, a P/E ratio of 57.36, a PEG ratio of 1.11 and a beta of 1.18. Analog Devices, Inc. has a 52 week low of $218.37 and a 52 week high of $445.91.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $1.10 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Analog Devices's dividend payout ratio (DPR) is currently 65.38%.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 1,432 shares of Analog Devices stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $400.83, for a total value of $573,988.56. Following the transaction, the director directly owned 120,175 shares in the company, valued at approximately $48,169,745.25. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Golz sold 1,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $411.95, for a total value of $411,950.00. Following the completion of the transaction, the director directly owned 12,019 shares of the company's stock, valued at approximately $4,951,227.05. The trade was a 7.68% 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 three months, insiders sold 102,858 shares of company stock valued at $41,672,900. 0.36% of the stock is owned by corporate insiders.

Analog Devices Company 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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