Wealthfront Advisers LLC Makes New $27.58 Million Investment in Analog Devices, Inc. $ADI

Wealthfront Advisers LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,431 shares of the semiconductor company’s stock, valued at approximately $27,576,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV increased its stake in shares of Analog Devices by 45.1% in the 4th quarter. ING Groep NV now owns 222,559 shares of the semiconductor company’s stock valued at $60,358,000 after acquiring an additional 69,202 shares during the last quarter. Covenant Asset Management LLC acquired a new position in Analog Devices in the 4th quarter worth $2,500,000. MGO One Seven LLC grew its holdings in shares of Analog Devices by 17.7% during the fourth quarter. MGO One Seven LLC now owns 45,547 shares of the semiconductor company’s stock worth $12,352,000 after buying an additional 6,846 shares in the last quarter. Jones Kertz & Associates Inc. bought a new position in shares of Analog Devices during the 4th quarter worth approximately $1,480,000. Finally, Natixis Advisors LLC grew its position in Analog Devices by 2.4% in the fourth quarter. Natixis Advisors LLC now owns 1,002,286 shares of the semiconductor company’s stock valued at $271,791,000 after purchasing an additional 23,531 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 3.5%

ADI opened at $376.63 on Wednesday. The stock has a market cap of $183.45 billion, a PE ratio of 55.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. 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 company has a fifty day moving average of $390.37 and a 200-day moving average of $370.30. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.20. The business 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 firm’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 12.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADI shares. Stifel Nicolaus boosted their price target on Analog Devices from $450.00 to $498.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group lifted their price objective on shares of Analog Devices from $410.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $430.00 price objective on shares of Analog Devices in a report on Thursday, May 21st. Wells Fargo & Company upped their price target on shares of Analog Devices from $470.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Finally, Bank of America upped their price objective on Analog Devices from $425.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $441.00.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 30,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at approximately $57,096,149.94. The trade was a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 17,594 shares of the company’s stock in a transaction 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 sale, the senior vice president owned 56,332 shares of the company’s stock, valued at $23,546,776. This trade represents a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,274 shares of company stock worth $42,247,986 in the last quarter. 0.36% of the stock is owned by insiders.

Key Stories Impacting Analog Devices

Here are the key news stories impacting Analog Devices this week:

• Positive Sentiment: Analysts expect fiscal Q3 earnings of approximately $3.33 per share, compared with $2.05 per share a year earlier. Several highly rated analysts have recently revised their forecasts, supporting expectations for continued earnings growth. Analog Devices likely to report higher Q3 earnings
• Positive Sentiment: Analog Devices enters the report after record recent revenue, expanding margins and strong free-cash-flow generation. Management previously targeted roughly $3.9 billion of fiscal Q3 revenue and adjusted EPS near $3.30, creating potential for a “beat and raise” reaction if results exceed those targets. Analog Devices stock rises as earnings target approaches
• Positive Sentiment: The industrial segment continues to benefit from factory modernization, electrification and robotics demand. Wall Street sentiment remains broadly favorable, including Cantor Fitzgerald’s reaffirmed Overweight rating and $550 price target. Can ADI’s industrial segment sustain growth momentum?

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.