Analog Devices (NASDAQ:ADI) Trading Down 0.3% – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI) dropped 0.3% 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 Analyst Weigh In

ADI has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Morgan Stanley dropped their target price 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. Finally, Truist Financial decreased their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

The company has a 50-day moving average of $221.65 and a 200-day moving average of $225.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market capitalization of $103.12 billion, a price-to-earnings ratio of 63.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating 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 previous year, the firm posted $2.01 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Analog Devices’s payout ratio is presently 111.85%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock worth $24,754,600. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several large investors have recently modified their holdings of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth $29,000. Archer Investment Corp raised its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Trifecta Capital Advisors LLC boosted its holdings in Analog Devices by 544.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 158 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the third quarter valued at approximately $43,000. 86.81% of the stock is owned by institutional investors.

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.