L2 Asset Management LLC Buys Shares of 2,786 Analog Devices, Inc. $ADI

L2 Asset Management LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, Holdings Channel reports. The fund bought 2,786 shares of the semiconductor company’s stock, valued at approximately $1,107,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Analog Devices during the second quarter valued at $18,610,868,000. State Street Corp increased its position 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 stake in shares of Analog Devices by 1.9% in the fourth quarter. Morgan Stanley now owns 10,450,624 shares of the semiconductor company’s stock valued at $2,834,210,000 after buying an additional 194,535 shares during the period. Bank of America Corp DE raised its stake in shares of Analog Devices by 5.2% in the first quarter. Bank of America Corp DE now owns 10,216,699 shares of the semiconductor company’s stock valued at $3,250,341,000 after buying an additional 501,604 shares during the period. Finally, Norges Bank purchased a new position in shares of Analog Devices during the 4th quarter valued at $2,215,516,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADI. Wells Fargo & Company cut their price target on Analog Devices from $515.00 to $500.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial upped their price objective on shares of Analog Devices from $364.00 to $405.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Fundamental Research set a $550.00 target price on shares of Analog Devices in a research report on Monday, June 29th. Stifel Nicolaus lifted their target price on shares of Analog Devices from $450.00 to $498.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $430.00 price target on shares of Analog Devices in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $454.63.

Analog Devices Price Performance

Analog Devices stock opened at $371.17 on Tuesday. The firm has a market capitalization of $179.86 billion, a P/E ratio of 44.03, a PEG ratio of 0.76 and a beta of 1.20. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 0.91. The business has a fifty day moving average price of $387.12 and a 200-day moving average price of $371.92.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.11. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%.The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 39.2% compared to the same quarter last year. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 12.96 EPS for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 currently 52.19%.

Insider Activity

In other news, Director Ray Stata sold 1,416 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $377.37, for a total value of $534,355.92. Following the sale, the director directly owned 114,511 shares of the company’s stock, valued at approximately $43,213,016.07. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 45,274 shares of company stock valued at $17,889,486. Corporate insiders own 0.36% of the company’s stock.

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.