Hurlow Wealth Management Group Inc. Acquires Shares of 2,242 Analog Devices, Inc. $ADI

Hurlow Wealth Management Group Inc. bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,242 shares of the semiconductor company’s stock, valued at approximately $890,000. Analog Devices makes up about 0.2% of Hurlow Wealth Management Group Inc.’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Analog Devices in the 2nd quarter valued at about $18,610,868,000. Norges Bank bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $2,215,516,000. Bank of New York Mellon Corp acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $1,326,066,000. Bank of America Corp DE boosted its position in shares of Analog Devices by 42.8% during the 4th quarter. Bank of America Corp DE now owns 9,715,095 shares of the semiconductor company’s stock worth $2,634,734,000 after acquiring an additional 2,912,666 shares in the last quarter. Finally, Amundi increased its stake in Analog Devices by 44.8% in the third quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock valued at $1,507,740,000 after acquiring an additional 1,922,302 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $450.00 target price on shares of Analog Devices in a research note on Wednesday, May 20th. Needham & Company LLC lifted their price target on Analog Devices from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Argus set a $460.00 price target on Analog Devices in a report on Tuesday, May 26th. Truist Financial raised their price objective on Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Finally, Bank of America lifted their target price on Analog Devices from $425.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $441.00.

Analog Devices Trading Down 3.5%

Shares of ADI stock opened at $376.63 on Wednesday. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The stock’s fifty day simple moving average is $390.37 and its 200 day simple moving average is $370.30. 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 $183.45 billion, a P/E ratio of 55.96, a P/E/G ratio of 1.01 and a beta of 1.20.

Analog Devices (NASDAQ:ADI) 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. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the company earned $1.85 earnings per share. The business’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 12.42 EPS for the current fiscal year.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 1,432 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $400.83, for a total value of $573,988.56. Following the completion of the transaction, the director owned 120,175 shares in the company, valued at $48,169,745.25. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 30,000 shares of Analog Devices 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 sale, the chief executive officer owned 137,538 shares in the company, valued at approximately $57,096,149.94. This represents a 17.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 105,274 shares of company stock worth $42,247,986. 0.36% of the stock is owned by corporate insiders.

More Analog Devices News

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?

Analog Devices Company 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.