Washington Trust Bank Has $7.97 Million Holdings in Analog Devices, Inc. $ADI

Key Points

• Washington Trust Bank increased its Analog Devices stake by 676.2% in the second quarter, ending with 20,064 shares valued at approximately $7.97 million. Institutional investors collectively own 86.81% of ADI.
• Analysts remain broadly positive, with an average “Buy” rating and $454.63 price target; several firms recently raised or reiterated targets ranging from $425 to $550.
• Analog Devices exceeded quarterly expectations, reporting $3.45 in adjusted EPS and $4.02 billion in revenue, with revenue up 39.2% year over year. The company also declared a $1.10 quarterly dividend, representing a 1.2% yield.

Washington Trust Bank grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 676.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,064 shares of the semiconductor company's stock after acquiring an additional 17,479 shares during the quarter. Washington Trust Bank's holdings in Analog Devices were worth $7,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in Analog Devices in the 2nd quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new stake in Analog Devices during the 2nd quarter worth $25,000. Dunhill Financial LLC bought a new stake in Analog Devices during the 2nd quarter worth $32,000. Quantbot Technologies LP acquired a new position in Analog Devices in the 2nd quarter worth about $33,000. Finally, Caitlin John LLC bought a new position in Analog Devices in the second quarter valued at about $35,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Karen Golz sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $374.50, for a total value of $374,500.00. Following the transaction, the director directly owned 10,019 shares of the company's stock, valued at approximately $3,752,115.50. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total value of $3,630,000.00. Following the transaction, the chief executive officer owned 137,538 shares in the company, valued at $49,926,294. The trade was a 6.78% 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 48,957 shares of company stock worth $19,268,931 in the last quarter. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADI shares. Seaport Research Partners upgraded Analog Devices from a "neutral" rating to a "buy" rating and set a $425.00 price target on the stock in a report on Thursday, August 20th. The Goldman Sachs Group reiterated a "buy" rating and set a $480.00 target price on shares of Analog Devices in a research report on Wednesday, August 19th. Bank of America boosted their target price on shares of Analog Devices from $425.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Fundamental Research set a $550.00 price target on shares of Analog Devices in a research note on Monday, June 29th. Finally, TD Cowen restated a "buy" rating and issued a $460.00 price objective on shares of Analog Devices in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Buy" and an average target price of $454.63.

Analog Devices Trading Down 3.4%

NASDAQ:ADI opened at $361.78 on Friday. The firm's fifty day moving average is $382.77 and its 200-day moving average is $372.95. 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 52 week low of $223.47 and a 52 week high of $445.91. The firm has a market cap of $175.31 billion, a P/E ratio of 42.92, a P/E/G ratio of 0.74 and a beta of 1.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.11. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. Analog Devices's quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Equities analysts expect that Analog Devices, Inc. will post 12.96 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, September 1st. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Analog Devices's dividend payout ratio is presently 52.19%.

About Analog Devices

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source