Analog Devices (NASDAQ:ADI) Trading Down 0.9% – What’s Next?

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

Analyst Ratings Changes

Several research analysts recently weighed in on ADI shares. Truist Financial cut their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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 company has a 50 day moving average of $221.96 and a 200 day moving average of $225.36. The firm has a market cap of $105.61 billion, a price-to-earnings ratio of 65.18, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.73%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % 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 worth $24,754,600 in the last ninety days. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADI. Grove Bank & Trust boosted its position in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 48 shares during the period. Quotient Wealth Partners LLC boosted its holdings in shares of Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the period. Bank of Hawaii grew its position in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 48 shares during the last quarter. Finally, SouthState Corp increased its holdings in shares of Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 50 shares during the period. 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.