Richard C. Puccio, Jr. Sells 4,000 Shares of Analog Devices, Inc. (NASDAQ:ADI) Stock

Analog Devices, Inc. (NASDAQ:ADI) CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Analog Devices Trading Down 0.7 %

Shares of Analog Devices stock opened at $204.40 on Friday. The business’s fifty day moving average is $217.17 and its two-hundred day moving average is $219.84. The firm has a market cap of $101.38 billion, a PE ratio of 65.10, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.94%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Analog Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Hawaii increased its holdings in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 48 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after acquiring an additional 53 shares during the period. Portland Global Advisors LLC boosted its stake in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after acquiring an additional 53 shares during the period. NTV Asset Management LLC boosted its stake in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 54 shares during the period. Finally, West Oak Capital LLC boosted its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.