Empirical Asset Management LLC Invests $579,000 in Analog Devices, Inc. $ADI

Empirical Asset Management LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,458 shares of the semiconductor company’s stock, valued at approximately $579,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Analog Devices during the 2nd quarter valued at $18,610,868,000. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at $2,215,516,000. Bank of New York Mellon Corp bought a new position in Analog Devices during the second quarter valued at about $1,326,066,000. Bank of America Corp DE grew its holdings in Analog Devices by 42.8% during the fourth 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 during the period. Finally, Amundi grew its holdings in Analog Devices by 44.8% during the third quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock worth $1,507,740,000 after acquiring an additional 1,922,302 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ray Stata sold 1,432 shares of the business’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 transaction of $573,988.56. Following the sale, the director owned 120,175 shares in the company, valued at $48,169,745.25. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Golz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $389.83, for a total transaction of $389,830.00. Following the completion of the sale, the director owned 11,019 shares of the company’s stock, valued at approximately $4,295,536.77. This trade represents a 8.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 105,274 shares of company stock valued at $42,247,986. 0.36% of the stock is currently owned by insiders.

Analog Devices Trading Down 3.5%

Shares of ADI opened at $376.63 on Wednesday. The business’s 50-day moving average price is $390.37 and its 200 day moving average price is $370.30. The stock 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, Inc. has a 1-year low of $223.47 and a 1-year high of $445.91. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upped their price target on shares of Analog Devices from $410.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Weiss Ratings downgraded shares of Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Oppenheimer increased their target price on shares of Analog Devices from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Wells Fargo & Company lifted their price target on shares of Analog Devices from $470.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $475.00 price target on shares of Analog Devices in a report on Thursday, May 21st. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.00.

Trending Headlines about 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.