Trust Point Inc. Sells 71 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Trust Point Inc. decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,545 shares of the semiconductor company’s stock after selling 71 shares during the period. Trust Point Inc.’s holdings in Analog Devices were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth $28,000. Archer Investment Corp increased its holdings 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 purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices in the fourth quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the third quarter valued at about $43,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Analog Devices during the third quarter worth about $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler reduced their price target 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 reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Stock Performance

NASDAQ ADI opened at $206.01 on Wednesday. The company has a fifty day moving average price of $216.06 and a 200-day moving average price of $220.94. The firm has a market cap of $102.20 billion, a price-to-earnings ratio of 62.62, a PEG ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

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

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. 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.