Analog Devices (NASDAQ:ADI) Stock Price Down 0.4% After Insider Selling

Shares of Analog Devices, Inc. (NASDAQ:ADI) dropped 0.4% on Thursday after an insider sold shares in the company. The stock traded as low as $214.64 and last traded at $216.21. Approximately 684,650 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,215,687 shares. The stock had previously closed at $217.12.

Specifically, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts recently commented on ADI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler lowered their price objective 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Price Performance

The firm has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $222.16 and its 200-day moving average is $225.53.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company posted $2.01 EPS. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Institutional Investors Weigh In On Analog Devices

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC grew its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. TCW Group Inc. acquired a new position in shares of Analog Devices in the second quarter valued at approximately $3,183,000. Raymond James & Associates raised its holdings in Analog Devices by 8.8% in the 2nd quarter. Raymond James & Associates now owns 926,050 shares of the semiconductor company’s stock valued at $211,380,000 after buying an additional 74,786 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Analog Devices by 9.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 41,957 shares of the semiconductor company’s stock worth $9,577,000 after buying an additional 3,544 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Analog Devices by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 182,045 shares of the semiconductor company’s stock worth $41,554,000 after acquiring an additional 2,084 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.