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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Bank of America decreased 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. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Morgan Stanley dropped their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Seven 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.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Trading Up 0.7 %

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

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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 analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 7.15 earnings per share 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. 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 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents 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 valued at $24,754,600 over the last three months. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Analog Devices

Large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the second quarter valued at $29,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Trifecta Capital Advisors LLC increased its position in Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock worth $43,000 after buying an additional 158 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.