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 company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analog Devices Stock Up 2.6 %

NASDAQ ADI traded up $5.82 during mid-day trading on Thursday, hitting $232.46. The company’s stock had a trading volume of 3,882,268 shares, compared to its average volume of 3,334,136. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50 day simple moving average is $223.06 and its 200 day simple moving average is $216.92. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The firm has a market capitalization of $115.41 billion, a price-to-earnings ratio of 53.19, a PEG ratio of 3.75 and a beta of 1.07.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co bought a new position in shares of Analog Devices in the first quarter worth $30,000. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC increased its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the second quarter valued at approximately $37,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research note on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.80.

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.