Analog Devices (NASDAQ:ADI) Shares Down 0.9% – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI) was down 0.9% on Tuesday . The stock traded as low as $214.41 and last traded at $214.43. Approximately 626,053 shares changed hands during trading, a decline of 81% from the average daily volume of 3,214,770 shares. The stock had previously closed at $216.31.

Analysts Set New Price Targets

Several research firms have commented on ADI. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Truist Financial cut their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Trading Up 0.0 %

The firm has a market cap of $103.12 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 2.47 and a beta of 1.05. The company has a fifty day moving average price of $221.14 and a 200-day moving average price of $225.09. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value 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 represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $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. Insiders have sold 110,000 shares of company stock valued at $24,754,600 over the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Focus Financial Network Inc. grew its position in Analog Devices by 28.7% in the second quarter. Focus Financial Network Inc. now owns 1,973 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 440 shares during the period. GYL Financial Synergies LLC purchased a new position in shares of Analog Devices during the 2nd quarter worth $213,000. Catalina Capital Group LLC increased its position in shares of Analog Devices by 12.3% during the 2nd quarter. Catalina Capital Group LLC now owns 2,949 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 323 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in Analog Devices by 50.2% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,446 shares of the semiconductor company’s stock valued at $558,000 after buying an additional 818 shares during the period. Finally, Everhart Financial Group Inc. lifted its position in Analog Devices by 20.8% in the second quarter. Everhart Financial Group Inc. now owns 2,186 shares of the semiconductor company’s stock valued at $499,000 after buying an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.