Blossom Wealth Management Acquires 55 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Blossom Wealth Management lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,881 shares of the semiconductor company’s stock after buying an additional 55 shares during the period. Blossom Wealth Management’s holdings in Analog Devices were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baader Bank Aktiengesellschaft boosted its holdings in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares during the period. Grove Bank & Trust grew its stake in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC increased its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Legacy Financial Advisors Inc. raised its holdings in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ADI. JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Barclays raised their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Price Performance

ADI stock opened at $224.62 on Wednesday. The firm has a 50 day moving average of $226.36 and a 200-day moving average of $221.66. The company has a market cap of $111.46 billion, a price-to-earnings ratio of 52.48, a PEG ratio of 3.87 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

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.