Analog Devices (NASDAQ:ADI) Trading Down 0.3% – What’s Next?

Analog Devices, Inc. (NASDAQ:ADIGet Free Report)’s stock price was down 0.3% during mid-day trading on Monday . The company traded as low as $213.66 and last traded at $215.90. Approximately 492,742 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,213,543 shares. The stock had previously closed at $216.61.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Piper Sandler dropped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Read Our Latest Stock Report on Analog Devices

Analog Devices Price Performance

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 company has a fifty day moving average of $221.65 and a 200 day moving average of $225.22. The firm has a market capitalization of $103.12 billion, a P/E ratio of 63.15, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. 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 the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’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 value 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 $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $24,754,600 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its holdings in Analog Devices by 0.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 794,359 shares of the semiconductor company’s stock worth $182,838,000 after purchasing an additional 2,097 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Analog Devices during the third quarter valued at approximately $20,194,000. Franklin Resources Inc. grew its holdings in 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 buying an additional 1,189,940 shares in the last quarter. Tidal Investments LLC raised its position in Analog Devices by 9.9% in the 3rd quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after buying an additional 2,188 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Analog Devices by 13.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock valued at $26,022,000 after acquiring an additional 13,788 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.