Analog Devices (NASDAQ:ADI) Trading Down 4.4%

Analog Devices, Inc. (NASDAQ:ADI) shares were down 4.4% on Tuesday . The company traded as low as $229.03 and last traded at $229.50. Approximately 1,710,839 shares were traded during trading, a decline of 47% from the average daily volume of 3,252,859 shares. The stock had previously closed at $240.04.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADI shares. Robert W. Baird boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Citigroup boosted their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer boosted their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, Stifel Nicolaus boosted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Analog Devices Stock Performance

The firm’s fifty day moving average price is $231.77 and its 200 day moving average price is $207.51. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $109.62 billion, a price-to-earnings ratio of 51.62, a price-to-earnings-growth ratio of 3.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business posted $2.83 EPS. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold a total of 46,642 shares of company stock valued at $10,481,343 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of large investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Analog Devices in the 4th quarter valued at $29,000. Private Wealth Management Group LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $29,000. Finally, Riverview Trust Co acquired a new position in shares of Analog Devices in the 1st quarter valued at $30,000. 86.81% of the stock is owned by hedge funds and other 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.