Summit Financial LLC Sells 1,316 Shares of Analog Devices, Inc. $ADI

Key Points

• Summit Financial LLC reduced its stake in Analog Devices, Inc. by 7.2% during the first quarter, holding 16,892 shares worth $3.4 million after selling 1,316 shares.
• Director Ray Stata sold 3,125 shares of Analog Devices at $239.23 each, reducing his stake by 1.83% to 167,571 shares valued at over $40 million.
• Several analysts upgraded their ratings for Analog Devices, with price targets ranging from $249.00 to $290.00, reflecting a mostly positive outlook and a consensus rating of "Moderate Buy."

Summit Financial LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,892 shares of the semiconductor company's stock after selling 1,316 shares during the quarter. Summit Financial LLC's holdings in Analog Devices were worth $3,407,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Heritage Financial Services LLC raised its holdings in Analog Devices by 1.6% in the 1st quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company's stock valued at $669,000 after acquiring an additional 53 shares in the last quarter. Hemington Wealth Management raised its holdings in Analog Devices by 11.4% in the 1st quarter. Hemington Wealth Management now owns 538 shares of the semiconductor company's stock valued at $108,000 after acquiring an additional 55 shares in the last quarter. Continuum Advisory LLC raised its holdings in Analog Devices by 14.8% in the 1st quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 57 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Analog Devices by 0.4% in the 1st quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock valued at $2,929,000 after acquiring an additional 58 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Analog Devices by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock valued at $1,147,000 after purchasing an additional 60 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial upgraded Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Benchmark lifted their price target on Analog Devices from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group decreased their price target on Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a research note on Monday, July 7th. Truist Financial lifted their price target on Analog Devices from $219.00 to $249.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Citigroup reiterated a "buy" rating and issued a $290.00 price target (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average price target of $273.53.

Analog Devices Trading Up 0.8%

Shares of ADI stock opened at $246.95 on Friday. The firm has a market capitalization of $122.55 billion, a P/E ratio of 63.00, a P/E/G ratio of 2.25 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $250.18. The company has a quick ratio of 1.51, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The stock's fifty day simple moving average is $234.26 and its 200 day simple moving average is $217.03.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.76 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.Analog Devices's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Analog Devices has set its Q4 2025 guidance at 2.120-2.320 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.96 dividend on an annualized basis and a yield of 1.6%. Analog Devices's payout ratio is currently 107.90%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

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