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

Analog Devices, Inc. (NASDAQ:ADI) shares fell 1.6% during mid-day 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 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 stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The business’s 50-day moving average is $222.16 and its 200 day moving average is $225.48. The firm 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 announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.70%. Analog Devices’s dividend payout ratio is presently 111.85%.

Institutional Trading of Analog Devices

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC acquired a new position in Analog Devices during the second quarter valued at approximately $29,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Analog Devices in the 2nd quarter valued at $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

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.