Analog Devices (NASDAQ:ADI) Stock Price Down 0.8% – What’s Next?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price traded down 0.8% during mid-day trading on Tuesday . The company traded as low as $219.95 and last traded at $221.30. 346,427 shares changed 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

Several research firms have recently weighed in on ADI. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Truist Financial decreased their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Seven equities 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, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Performance

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 stock has a market cap of $110.17 billion, a price-to-earnings ratio of 67.26, a PEG ratio of 2.48 and a beta of 1.05. The stock’s fifty day moving average is $224.14 and its 200-day moving average is $226.03.

Analog Devices Announces Dividend

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 issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.66%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. 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 dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,000 shares of company stock worth $22,596,300. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several large investors have recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC bought a new stake in shares of Analog Devices during the second quarter worth about $29,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% in 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 in the last quarter. Finally, CVA Family Office LLC increased its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 86.81% of the stock is 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.