Analog Devices (NASDAQ:ADI) Trading Down 1.6% Following 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 changed hands during mid-day 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 shares were sold at an average price of $215.83, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial cut their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Down 0.5 %

The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $107.50 billion, a price-to-earnings ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The firm’s 50 day simple moving average is $222.40 and its 200 day simple moving average is $225.64.

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, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the second quarter worth approximately $29,000. Archer Investment Corp boosted 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 during the period. ORG Partners LLC raised its stake in Analog Devices by 675.0% during 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 during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices during the second 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.