Analog Devices (NASDAQ:ADI) Trading Down 1.6% After Insider Selling

Analog Devices, Inc. (NASDAQ:ADI) fell 1.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $213.75 and last traded at $214.27. 333,208 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,213,546 shares. The stock had previously closed at $217.72.

Specifically, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

Several brokerages have weighed in on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial lowered their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The firm has a 50 day moving average price of $222.40 and a two-hundred day moving average price of $225.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 EPS. On average, research analysts expect that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its position in Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. International Assets Investment Management LLC grew its position in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the period. Finally, Holocene Advisors LP increased its stake in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Company Profile

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.