Analog Devices’ (ADI) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Analog Devices (NASDAQ:ADI) in a report released on Wednesday morning,Benzinga reports.

ADI has been the topic of a number of other research reports. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Up 0.4 %

Analog Devices stock opened at $218.05 on Wednesday. The stock’s fifty day moving average is $224.14 and its two-hundred day moving average is $225.86. The stock has a market cap of $108.22 billion, a PE ratio of 66.28, a P/E/G ratio of 3.35 and a beta of 1.08. Analog Devices has a 1-year low of $179.63 and a 1-year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $24,883,200 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors have recently modified their holdings of ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the third quarter valued at $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth $29,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. ORG Partners LLC increased its stake in Analog Devices by 675.0% during the second 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 last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.