Sterling Capital Management LLC Sells 55,295 Shares of Analog Devices, Inc. $ADI

Key Points

• Sterling Capital Management reduced its stake in Analog Devices by 22.3% in the first quarter, selling 55,295 shares and leaving it with 192,816 shares valued at about $61.3 million.
• Insider selling was also notable, with CEO Vincent Roche and SVP Martin Cotter selling shares in recent transactions; insiders have sold 101,442 shares worth about $40.4 million over the last quarter.
• Analog Devices shares were down 7.4% in recent trading even after the company posted better-than-expected quarterly earnings and revenue, and analysts currently rate the stock a Moderate Buy with an average price target of $434.43.

Sterling Capital Management LLC cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,816 shares of the semiconductor company's stock after selling 55,295 shares during the period. Analog Devices accounts for 1.2% of Sterling Capital Management LLC's portfolio, making the stock its 12th largest holding. Sterling Capital Management LLC's holdings in Analog Devices were worth $61,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. ING Groep NV increased its stake in shares of Analog Devices by 45.1% during the fourth quarter. ING Groep NV now owns 222,559 shares of the semiconductor company's stock worth $60,358,000 after purchasing an additional 69,202 shares during the period. Nordea Investment Management AB boosted its stake in Analog Devices by 247.3% in the 4th quarter. Nordea Investment Management AB now owns 350,692 shares of the semiconductor company's stock valued at $95,802,000 after purchasing an additional 249,702 shares during the period. Covenant Asset Management LLC bought a new stake in Analog Devices in the 4th quarter valued at $2,500,000. HF Advisory Group LLC grew its holdings in Analog Devices by 661.6% in the 4th quarter. HF Advisory Group LLC now owns 49,693 shares of the semiconductor company's stock valued at $13,477,000 after buying an additional 43,168 shares in the last quarter. Finally, Jones Kertz & Associates Inc. bought a new position in Analog Devices during the 4th quarter worth $1,480,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 30,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total transaction of $12,453,900.00. Following the completion of the transaction, the chief executive officer directly owned 137,538 shares of the company's stock, valued at $57,096,149.94. This trade represents a 17.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Martin Cotter sold 17,594 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 directly owned 56,332 shares in the company, valued at approximately $23,546,776. This represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 101,442 shares of company stock valued at $40,422,954. Insiders own 0.36% of the company's stock.

Analog Devices Trading Down 7.4%

Shares of ADI stock opened at $387.14 on Friday. Analog Devices, Inc. has a twelve month low of $218.37 and a twelve month high of $445.91. The stock's fifty day simple moving average is $408.01 and its 200 day simple moving average is $345.52. 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 firm has a market capitalization of $188.57 billion, a P/E ratio of 57.52, a P/E/G ratio of 1.17 and a beta of 1.18.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, June 2nd. Analog Devices's dividend payout ratio is 65.38%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADI. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Sunday, May 24th. Needham & Company LLC lifted their price objective on shares of Analog Devices from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Evercore reissued an "outperform" rating and issued a $474.00 price objective on shares of Analog Devices in a report on Thursday, May 21st. Truist Financial increased their target price on shares of Analog Devices from $364.00 to $405.00 and gave the stock a "hold" rating in a research report on Wednesday, May 20th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $475.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $434.43.

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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