Smith Group Asset Management LLC Sells 67,797 Shares of Analog Devices, Inc. $ADI

Key Points

• Smith Group Asset Management cut its Analog Devices stake by 37.3%, selling 67,797 shares and retaining 114,094 shares valued at approximately $45.3 million. Institutional investors collectively own 86.81% of ADI.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $460.55. Recent ratings included upgrades from Seaport Research Partners and Weiss Ratings.
• Analog Devices exceeded quarterly expectations, reporting $3.45 in EPS and $4.02 billion in revenue, with revenue up 39.2% year over year. The company also declared a quarterly dividend of $1.10 per share, equal to a 1.0% annualized yield.

Smith Group Asset Management LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 37.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,094 shares of the semiconductor company's stock after selling 67,797 shares during the quarter. Analog Devices accounts for approximately 3.0% of Smith Group Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Smith Group Asset Management LLC's holdings in Analog Devices were worth $45,262,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADI. BlackRock Inc. purchased a new stake in shares of Analog Devices in the second quarter worth approximately $18,610,868,000. Bank of America Corp DE bought a new position in shares of Analog Devices in the second quarter valued at approximately $3,573,081,000. Legal & General Group Plc purchased a new position in shares of Analog Devices during the second quarter valued at approximately $1,525,167,000. Bank of New York Mellon Corp purchased a new position in shares of Analog Devices during the second quarter valued at approximately $1,326,066,000. Finally, Primecap Management Co. CA bought a new stake in Analog Devices during the second quarter worth $1,242,479,000. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Analog Devices from $515.00 to $500.00 and set an "overweight" rating for the company in a research report on Thursday, August 20th. Seaport Research Partners upgraded Analog Devices from a "neutral" rating to a "buy" rating and set a $425.00 price objective on the stock in a research note on Thursday, August 20th. The Goldman Sachs Group reiterated a "buy" rating and issued a $480.00 target price (up from $450.00) on shares of Analog Devices in a report on Wednesday, August 19th. KeyCorp raised their price target on shares of Analog Devices from $500.00 to $525.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Analog Devices from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $460.55.

Analog Devices Price Performance

ADI opened at $428.27 on Thursday. The firm has a market cap of $207.52 billion, a P/E ratio of 50.80, a PEG ratio of 1.20 and a beta of 1.22. The firm has a 50-day moving average of $386.40 and a 200 day moving average of $369.85. 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 fifty-two week low of $223.47 and a fifty-two week high of $445.91.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.34 by $0.11. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The company's revenue for the quarter was up 39.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. On average, research analysts expect that Analog Devices, Inc. will post 13.00 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $1.10 per share. The ex-dividend date was Tuesday, September 1st. This represents a $4.40 annualized dividend and a dividend yield of 1.0%. Analog Devices's dividend payout ratio (DPR) is presently 52.19%.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 1,416 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $420.04, for a total transaction of $594,776.64. Following the completion of the transaction, the director directly owned 108,847 shares of the company's stock, valued at approximately $45,720,093.88. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $396.94, for a total value of $3,969,400.00. Following the transaction, the chief executive officer directly owned 115,460 shares of the company's stock, valued at approximately $45,830,692.40. This trade represents a 7.97% 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 52,436 shares of company stock worth $20,014,954 over the last 90 days. Corporate insiders own 0.36% of the company's stock.

Analog Devices Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.

The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.

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