Trueblood Wealth Management LLC Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Trueblood Wealth Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,019 shares of the semiconductor company’s stock after buying an additional 197 shares during the quarter. Analog Devices makes up about 0.9% of Trueblood Wealth Management LLC’s portfolio, making the stock its 18th largest position. Trueblood Wealth Management LLC’s holdings in Analog Devices were worth $1,916,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth about $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Analog Devices in the 3rd quarter worth about $43,000. Reston Wealth Management LLC bought a new position in Analog Devices in the 3rd quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new position in Analog Devices in the 3rd quarter worth about $80,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADI. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 1.9 %

Shares of NASDAQ:ADI opened at $219.16 on Monday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The firm has a market capitalization of $108.77 billion, a P/E ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The stock has a 50 day moving average price of $215.64 and a 200-day moving average price of $222.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.