Analog Devices (NASDAQ:ADI) Stock Price Up 1.2% – Time to Buy?

Analog Devices, Inc. (NASDAQ:ADI) shot up 1.2% during mid-day trading on Wednesday . The stock traded as high as $217.58 and last traded at $216.48. 325,312 shares changed hands during trading, a decline of 90% from the average session volume of 3,213,586 shares. The stock had previously closed at $213.82.

Analyst Ratings Changes

ADI has been the subject of several research analyst reports. Piper Sandler lowered 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 report on Wednesday, November 27th. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report 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. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven research 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Stock Up 0.7 %

The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average is $221.65 and its 200-day moving average is $225.22. The company has a market cap of $106.88 billion, a price-to-earnings ratio of 65.46, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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. The firm had revenue of $2.44 billion for 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%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $2.01 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced 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 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock worth $24,754,600. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Lord Abbett & CO. LLC raised its holdings in shares of Analog Devices by 0.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 794,359 shares of the semiconductor company’s stock valued at $182,838,000 after buying 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 worth approximately $20,194,000. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. Tidal Investments LLC lifted its stake in Analog Devices by 9.9% in the third quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock worth $5,596,000 after purchasing an additional 2,188 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Analog Devices by 13.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock valued at $26,022,000 after buying an additional 13,788 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.