Trueblood Wealth Management LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Trueblood Wealth Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,378 shares of the semiconductor company’s stock, valued at approximately $1,664,000. Analog Devices accounts for 1.1% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ancora Advisors LLC boosted its stake in shares of Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 57 shares in the last quarter. Legacy Advisors LLC boosted its position in Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 59 shares during the last quarter. MRA Advisory Group lifted its position in shares of Analog Devices by 2.5% during the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 61 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Analog Devices by 3.1% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,083 shares of the semiconductor company’s stock worth $365,000 after acquiring an additional 62 shares during the period. Finally, Sage Mountain Advisors LLC raised its stake in Analog Devices by 5.4% during the third quarter. Sage Mountain Advisors LLC now owns 1,227 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 63 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,125,860.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,125,860.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,228 shares of company stock worth $4,134,502. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $4.37 during midday trading on Wednesday, hitting $193.33. The stock had a trading volume of 2,410,285 shares, compared to its average volume of 3,447,762. The company has a market capitalization of $95.87 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 4.78 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $192.77 and its 200-day moving average price is $184.40. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $202.77.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm posted $2.75 EPS. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADI shares. Morgan Stanley restated an “overweight” rating and set a $212.00 target price (down from $219.00) on shares of Analog Devices in a report on Thursday, February 22nd. Barclays boosted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Finally, Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a report on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

Analog Devices Profile

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.