Truist Financial Corp Has $316.39 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Truist Financial Corp boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,489,162 shares of the semiconductor company's stock after acquiring an additional 9,202 shares during the period. Truist Financial Corp owned approximately 0.30% of Analog Devices worth $316,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners bought a new stake in Analog Devices in the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new stake in Analog Devices in the 3rd quarter valued at approximately $43,000. Finally, Sierra Ocean LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $46,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADI shares. Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price for the company. Finally, TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $248.52.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Analog Devices Price Performance

NASDAQ ADI traded up $20.63 during midday trading on Wednesday, hitting $240.85. The company had a trading volume of 6,856,718 shares, compared to its average volume of 3,574,531. The company has a market capitalization of $119.49 billion, a PE ratio of 73.14, a P/E/G ratio of 2.46 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $214.04 and a 200-day moving average price of $219.65.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. As a group, analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.64%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is currently 111.85%.

Analog Devices announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.