Analog Devices (NASDAQ:ADI) Stock Price Down 0.9% – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI)’s stock price traded down 0.9% during trading on Friday . The stock traded as low as $213.90 and last traded at $217.17. 2,943,466 shares were traded during trading, a decline of 18% from the average session volume of 3,575,303 shares. The stock had previously closed at $219.05.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADI. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a 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 report on Thursday, August 22nd. Piper Sandler cut their target price 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. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday. Finally, TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Price Performance

The company has a market cap of $108.22 billion, a P/E ratio of 66.01, a P/E/G ratio of 3.35 and a beta of 1.08. The company’s 50-day moving average price is $224.32 and its two-hundred day moving average price is $225.80. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices Announces Dividend

The company 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 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $24,883,200 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter worth $28,000. New Millennium Group LLC bought a new stake in shares of Analog Devices during the second quarter valued at about $29,000. Archer Investment Corp grew its position in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC increased 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 buying an additional 135 shares during the period. Finally, CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. 86.81% of the stock is owned by 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.