Analog Devices (NASDAQ:ADI) Shares Down 0.8% – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI)’s share price traded down 0.8% during trading on Tuesday . The company traded as low as $219.95 and last traded at $221.30. 346,427 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,226,897 shares. The stock had previously closed at $223.12.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. 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 report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The company has a market cap of $110.17 billion, a PE ratio of 67.26, a PEG ratio of 2.48 and a beta of 1.05. 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 business has a 50-day moving average of $224.14 and a 200 day moving average of $226.03.

Analog Devices Dividend Announcement

The firm 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 $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was 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 owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock valued at $22,596,300. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake 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 valued at $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Analog Devices by 9.9% during the 3rd quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after acquiring an additional 2,188 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Analog Devices by 13.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock worth $26,022,000 after purchasing an additional 13,788 shares during the last quarter. Sfmg LLC raised its stake in Analog Devices by 64.9% during the third quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company’s stock valued at $518,000 after purchasing an additional 886 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in Analog Devices by 4,581.5% during the third quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock valued at $9,709,000 after purchasing an additional 41,279 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.