Institutions Adjust Bets on Key Tech Stocks

Recent regulatory filings show notable third‑quarter portfolio shifts by large investors into Autodesk (ADSK), Adobe (ADBE) and Analog Devices. These moves highlight continued institutional focus on leading software and semiconductor franchises.

Goodman Advisory Group LLC raised its stake in Autodesk, Inc. by 41.0% in the third quarter, adding 6,799 shares to bring its total to 23,394 shares worth $7,432,000. Autodesk now represents about 1.8% of the firm’s holdings and is its 20th largest position.

In Adobe Inc., First Trust Advisors LP lifted its position by 4.9% during the same period to 650,545 shares valued at $229,480,000, or about 0.16% of Adobe’s shares. Bowie Capital Management LLC increased its Adobe stake by 16.6% to 252,836 shares worth $89,188,000, making the stock its 17th largest holding.

For Analog Devices, Inc., First Trust Advisors LP cut its holdings by 2.5% to 936,513 shares valued at $230,101,000, while B. Metzler seel. Sohn & Co. AG raised its position by 11.2% to 132,024 shares worth $32,438,000. Other institutions, including Voya Investment Management LLC and SG Americas Securities LLC, also reported larger stakes in Analog Devices.

Autodesk, Adobe and Analog Devices all recently reported quarterly results that exceeded consensus earnings estimates and provided forward guidance. These updates give context to the institutional repositioning and analyst activity around the names.

Autodesk reported earnings per share of $2.85 for the quarter ended February 26th, topping the $2.64 consensus by $0.21. Revenue came in at $1.96 billion versus expectations of $1.91 billion, up 19.4% year over year. The company issued fiscal 2027 EPS guidance of $12.29 to $12.56 and first‑quarter 2027 EPS guidance of $2.82 to $2.86.

Adobe posted quarterly earnings per share of $5.50 on revenue of $6.19 billion, beating analyst EPS estimates of $5.40 and revenue projections of $6.11 billion. Earnings rose from $4.81 a year earlier, while revenue increased 10.5% year over year. Adobe guided for first‑quarter 2026 EPS of $5.85 to $5.90 and full‑year 2026 EPS of $23.30 to $23.50.

Analog Devices reported quarterly EPS of $2.46, above the $2.31 consensus, on revenue of $3.16 billion versus expectations of $3.10 billion. Revenue grew 30.4% from the prior‑year quarter, when EPS was $1.63. The company set second‑quarter 2026 EPS guidance at $2.73 to $3.03.

Autodesk shares opened at $260.99 on Friday, giving the company a market capitalization of $55.07 billion. The stock trades at a price‑to‑earnings ratio of 49.81 and a price‑to‑earnings‑growth ratio of 1.73, with a beta of 1.45. Over the past year, Autodesk has traded between $215.01 and $329.09.

Adobe stock opened at $283.62, valuing the firm at $116.43 billion. Adobe has a P/E ratio of 16.97, a P/E/G ratio of 1.12 and a beta of 1.53. Its 12‑month trading range runs from $244.28 to $452.51. The company carries a debt‑to‑equity ratio of 0.53 and both current and quick ratios of 1.00.

Analog Devices shares opened at $315.81, with a market cap of $154.18 billion, a P/E ratio of 57.74, a P/E/G ratio of 1.45 and a beta of 1.00. The stock’s 12‑month range is $158.65 to $363.20. The company reports a debt‑to‑equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 1.35.

Analog Devices announced a quarterly dividend increase to $1.10 per share, up from $0.99. The dividend will be paid on March 17th to shareholders of record on March 3rd, representing an annualized payout of $4.40 and a yield of 1.4%. The dividend payout ratio stands at 80.44%.

Insider transactions include Analog Devices CEO Vincent Roche selling 10,000 shares at an average price of $306.92 and SVP Katsufumi Nakamura selling 500 shares at $301.46. CAO Michael Sondel sold 8,169 shares at $278.03. Over 90 days, insiders sold 57,743 Analog Devices shares worth $16,836,340. At Adobe, CFO Daniel Durn sold 1,646 shares at an average price of $294.85.

Analyst coverage remains broadly constructive on Autodesk and Analog Devices. Autodesk holds a consensus rating of "Moderate Buy" from 29 analysts, with a consensus target price of $341.96. For Analog Devices, three analysts rate the stock a Strong Buy, 23 a Buy and four a Hold, yielding a consensus "Moderate Buy" rating and an average target price of $366.96.

Adobe’s analyst sentiment is more mixed. One analyst rates the stock a Strong Buy, ten rate it Buy, eleven rate it Hold and four assign a Sell rating. The consensus rating is "Hold" with an average price target of $386.68, based on data cited in the reports.