Wealthfront Advisers LLC Invests $27.58 Million in Analog Devices, Inc. $ADI

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

Other institutional investors have also modified their holdings of the company. Riverbend Wealth Management LLC raised its stake in Analog Devices by 2.2% during the first quarter. Riverbend Wealth Management LLC now owns 1,245 shares of the semiconductor company’s stock valued at $396,000 after buying an additional 27 shares in the last quarter. Bridgewater Advisors Inc. grew its position in shares of Analog Devices by 1.5% during the first quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company’s stock worth $574,000 after acquiring an additional 27 shares during the last quarter. Silicon Valley Capital Partners grew its position in Analog Devices by 4.2% in the 1st quarter. Silicon Valley Capital Partners now owns 672 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 27 shares during the last quarter. Sound Income Strategies LLC increased its position in Analog Devices by 12.0% in the 1st quarter. Sound Income Strategies LLC now owns 281 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 30 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Analog Devices by 5.0% during the fourth quarter. 1620 Investment Advisors Inc. now owns 671 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, SVP Martin Cotter sold 17,594 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total value 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 represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 1,416 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $377.37, for a total value of $534,355.92. Following the completion of the sale, the director owned 114,511 shares in the company, valued at approximately $43,213,016.07. This represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,274 shares of company stock worth $42,247,986 over the last quarter. 0.36% of the stock is owned by company insiders.

Key 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 Price Performance

Shares of NASDAQ:ADI 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 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 market cap of $183.45 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 1.01 and a beta of 1.20. The business has a 50 day moving average price of $390.37 and a 200 day moving average price of $370.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. Analog Devices had a net margin of 26.01% and a return on equity of 14.37%. Analog Devices’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. Research analysts predict that Analog Devices, Inc. will post 12.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ADI. Sanford C. Bernstein reiterated a “market perform” rating and set a $430.00 price objective on shares of Analog Devices in a research note on Thursday, May 21st. Wolfe Research reiterated an “outperform” rating and issued a $475.00 target price on shares of Analog Devices in a report on Thursday, May 21st. Jefferies Financial Group raised their target price on Analog Devices from $410.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price objective on shares of Analog Devices in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus boosted their target price on Analog Devices from $450.00 to $498.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $441.00.

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.