Analog Devices, Inc. (NASDAQ:ADI) CFO Prashanth Mahendra-Rajah sold 1,463 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $109.75, for a total value of $160,564.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Analog Devices stock traded down $0.22 during trading hours on Friday, hitting $115.99. 16,826 shares of the company traded hands, compared to its average volume of 2,117,255. The firm has a market cap of $42.93 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.77 and a beta of 1.43. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $112.06 and its two-hundred day simple moving average is $109.76. Analog Devices, Inc. has a 1-year low of $76.62 and a 1-year high of $124.79.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Analog Devices had a net margin of 24.71% and a return on equity of 17.87%. Analog Devices’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $1.53 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post 5.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.16 annualized dividend and a yield of 1.86%. Analog Devices’s payout ratio is 36.36%.
Institutional investors have recently added to or reduced their stakes in the business. Lenox Wealth Advisors LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at about $28,000. Berman Capital Advisors LLC boosted its position in shares of Analog Devices by 43.8% during the 1st quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 91 shares in the last quarter. Assetmark Inc. boosted its position in shares of Analog Devices by 120.6% during the 2nd quarter. Assetmark Inc. now owns 289 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 158 shares in the last quarter. Tortoise Investment Management LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at about $34,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Analog Devices during the 2nd quarter valued at about $44,000. 87.52% of the stock is currently owned by hedge funds and other institutional investors.
ADI has been the topic of several research reports. Barclays raised Analog Devices from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $130.00 in a report on Thursday. SunTrust Banks reduced their price objective on shares of Analog Devices to $122.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Morgan Stanley increased their price objective on shares of Analog Devices from $97.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada dropped their price objective on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $111.67.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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