Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) EVP Sells 30,000 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Gregory M. Bryant sold 30,000 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 $6,867,900.00. Following the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analog Devices Trading Up 1.8 %

Shares of NASDAQ ADI traded up $4.06 during midday trading on Wednesday, reaching $227.73. 1,857,962 shares of the stock were exchanged, compared to its average volume of 3,315,704. The business has a 50-day simple moving average of $222.62 and a two-hundred day simple moving average of $217.97. The company has a market capitalization of $113.00 billion, a price-to-earnings ratio of 53.56, a P/E/G ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

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

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.62%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADI shares. Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently added to or reduced their stakes in ADI. New Millennium Group LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth about $29,000. Riverview Trust Co bought a new stake in Analog Devices in the 1st quarter valued at about $30,000. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC lifted its holdings in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the 2nd quarter worth approximately $37,000. 86.81% of the stock is owned by institutional investors.

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.