Summit Wealth Group LLC Buys Shares of 9,879 Analog Devices, Inc. $ADI

Key Points

• Summit Wealth Group LLC opened a new position in Analog Devices during the first quarter, buying 9,879 shares worth about $3.14 million.
• Analog Devices reported strong quarterly results, with EPS of $3.09 beating estimates and revenue of $3.62 billion topping expectations, while revenue jumped 37.2% year over year.
• Wall Street sentiment remains positive, with several analysts raising price targets and the stock currently carrying a Moderate Buy rating and an average target price of $440.14.

Summit Wealth Group LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,879 shares of the semiconductor company's stock, valued at approximately $3,143,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 50,893,276 shares of the semiconductor company's stock valued at $13,802,256,000 after buying an additional 503,970 shares during the last quarter. State Street Corp increased its holdings in Analog Devices by 0.4% in the fourth quarter. State Street Corp now owns 23,487,584 shares of the semiconductor company's stock worth $6,369,833,000 after buying an additional 88,538 shares during the last quarter. Morgan Stanley raised its position in Analog Devices by 1.9% during the fourth quarter. Morgan Stanley now owns 10,450,624 shares of the semiconductor company's stock valued at $2,834,210,000 after acquiring an additional 194,535 shares in the last quarter. Bank of America Corp DE raised its position in Analog Devices by 42.8% during the fourth quarter. Bank of America Corp DE now owns 9,715,095 shares of the semiconductor company's stock valued at $2,634,734,000 after acquiring an additional 2,912,666 shares in the last quarter. Finally, Norges Bank acquired a new stake in Analog Devices in the fourth quarter valued at approximately $2,215,516,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $386.01 on Tuesday. The business has a 50 day simple moving average of $408.54 and a 200 day simple moving average of $354.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 1.34. The company has a market capitalization of $188.02 billion, a PE ratio of 57.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. Analog Devices, Inc. has a one year low of $218.37 and a one year high of $445.91.

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

Analog Devices Announces Dividend

The company also recently declared 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. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 2nd. Analog Devices's dividend payout ratio is 65.38%.

Insider Transactions at Analog Devices

In other news, Director Karen Golz sold 1,000 shares of the firm'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 transaction, the director directly owned 12,019 shares in the company, valued at $4,951,227.05. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Stata sold 1,432 shares of the firm's stock in a transaction dated 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 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 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 102,858 shares of company stock worth $41,672,900 in the last ninety days. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADI shares. Argus set a $460.00 price objective on shares of Analog Devices in a report on Tuesday, May 26th. Citigroup raised their target price on Analog Devices from $400.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Analog Devices from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Arete Research upgraded Analog Devices from a "neutral" rating to a "buy" rating and set a $389.00 price target for the company in a research note on Monday, March 30th. Finally, Oppenheimer increased their price objective on Analog Devices from $400.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Two research 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's stock. According to MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $440.14.

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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