JGP Wealth Management LLC Has $16.60 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

JGP Wealth Management LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,149 shares of the semiconductor company's sto

JGP Wealth Management LLC has increased its stake in Analog Devices, Inc. (NASDAQ: ADI) by 2.7% during the fourth quarter, now holding 78,149 shares valued at $16.6 million. Analog Devices represents approximately 2.1% of JGP's portfolio and is their 10th largest position. Other institutional investors have also shown strong interest in Analog Devices, with firms like State Street Corp, Geode Capital Management LLC, and Franklin Resources Inc. increasing their holdings.

Recent insider trades include CEO Vincent Roche selling 10,000 shares for $2.16 million and EVP Gregory M. Bryant selling 20,000 shares for $4.48 million. These transactions reflect reductions in their respective holdings by 31.27% and 25.29%.

Analog Devices, known for designing and manufacturing integrated circuits and power management products, posted quarterly earnings of $1.67 per share, surpassing analyst expectations. Despite a 10.1% year-over-year revenue decline to $2.44 billion, the company maintains a strong financial position, supported by a debt-to-equity ratio of 0.19 and a dividend yield of 1.68%.

Analysts remain optimistic, with the stock carrying a "Moderate Buy" consensus rating and a price target of $247.57. The company's ongoing investment in cutting-edge technologies and strategic market positioning underline its growth potential, making it a key player in the semiconductor industry.