Analog Devices (NASDAQ:ADI) Trading Up 3.1% – Should You Buy?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price traded up 3.1% during trading on Monday . The company traded as high as $221.58 and last traded at $221.29. 1,260,396 shares were traded during mid-day trading, a decline of 61% from the average session volume of 3,205,092 shares. The stock had previously closed at $214.59.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADI shares. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. 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. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target 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. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The stock has a market cap of $107.82 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. The company’s 50 day simple moving average is $224.64 and its 200 day simple moving average is $225.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.69%. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $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 ninety days, insiders sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $537,171,000. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Analog Devices by 14.9% in 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 during the period. International Assets Investment Management LLC grew its holdings in shares of Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after buying an additional 853,931 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.