Trueblood Wealth Management LLC Has $1.92 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Trueblood Wealth Management LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,019 shares of the semiconductor company’s stock after acquiring an additional 197 shares during the quarter. Analog Devices comprises 0.9% of Trueblood Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. Trueblood Wealth Management LLC’s holdings in Analog Devices were worth $1,916,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after buying an additional 106,664 shares in the last quarter. Geode Capital Management LLC grew its holdings in Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares in the last quarter. Franklin Resources Inc. grew its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. FMR LLC grew its holdings in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after buying an additional 700,862 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADI has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Buying and Selling

In related news, 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 transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

Analog Devices Trading Up 1.9 %

Shares of Analog Devices stock opened at $219.16 on Monday. 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, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The stock has a 50 day moving average price of $215.64 and a two-hundred day moving average price of $222.52. The stock has a market capitalization of $108.77 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $2.01 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

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.