Analog Devices (NASDAQ:ADI) Shares Down 0.4% – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI)’s stock price fell 0.4% during mid-day trading on Friday . The stock traded as low as $211.54 and last traded at $213.18. 218,863 shares were traded during trading, a decline of 93% from the average session volume of 3,202,750 shares. The stock had previously closed at $213.96.

Analysts Set New Price Targets

Several analysts have recently weighed in on ADI shares. Wells Fargo & Company started coverage on Analog Devices in a report on Friday. They set an “equal weight” rating and a $220.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.38.

Analog Devices Stock Up 0.0 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market cap of $106.28 billion, a P/E ratio of 64.02, a PEG ratio of 2.97 and a beta of 1.08. The firm’s 50-day simple moving average is $225.09 and its 200 day simple moving average is $225.33.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock worth $25,116,338 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently bought and sold shares of ADI. Anchor Investment Management LLC lifted its stake in Analog Devices by 33.2% in the third quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company’s stock valued at $572,000 after acquiring an additional 619 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Analog Devices by 4.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company’s stock valued at $751,000 after purchasing an additional 128 shares during the period. Invst LLC lifted its stake in Analog Devices by 7.7% in the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 70 shares during the last quarter. TCW Group Inc. grew its holdings in Analog Devices by 10.7% during the third quarter. TCW Group Inc. now owns 15,436 shares of the semiconductor company’s stock worth $3,553,000 after purchasing an additional 1,491 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in Analog Devices during the third quarter worth approximately $1,275,000. 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.