M.D. Sass LLC Invests $61.50 Million in Analog Devices, Inc. $ADI

M.D. Sass LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 154,854 shares of the semiconductor company’s stock, valued at approximately $61,503,000. Analog Devices comprises approximately 4.0% of M.D. Sass LLC’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. M. Kulyk & Associates LLC acquired a new stake in Analog Devices during the 2nd quarter valued at approximately $543,000. Meeder Advisory Services Inc. purchased a new stake in Analog Devices during the 2nd quarter worth approximately $6,158,000. Meeder Asset Management Inc. acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $12,220,000. Citizens Financial Group Inc. RI acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $3,316,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Analog Devices during the 2nd quarter valued at approximately $1,797,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Analog Devices from $430.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Citigroup raised their price objective on shares of Analog Devices from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 target price on shares of Analog Devices in a research report on Wednesday, May 20th. Sanford C. Bernstein restated a “market perform” rating and issued a $430.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. Finally, Robert W. Baird increased their price target on shares of Analog Devices from $365.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $441.00.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 1,432 shares of Analog Devices stock in a transaction dated 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 directly owned 120,175 shares of the company’s stock, valued at approximately $48,169,745.25. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Golz sold 1,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $389.83, for a total transaction of $389,830.00. Following the sale, the director directly owned 11,019 shares of the company’s stock, valued at approximately $4,295,536.77. This 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 quarter, insiders have sold 105,274 shares of company stock valued at $42,247,986. Corporate insiders own 0.36% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $376.63 on Wednesday. The stock’s 50 day simple moving average is $390.37 and its 200 day simple moving average is $370.30. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91. The firm has a market cap 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. 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 released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping 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 firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The firm’s revenue was up 37.2% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 12.42 EPS for the current year.

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?

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.