Analog Devices (NASDAQ:ADI) Stock Price Down 3.5% – What’s Next?

Analog Devices, Inc. (NASDAQ:ADI)’s share price dropped 3.5% during trading on Friday . The stock traded as low as $220.14 and last traded at $220.35. Approximately 731,727 shares traded hands during trading, a decline of 75% from the average daily volume of 2,888,056 shares. The stock had previously closed at $228.35.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial boosted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen 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 price target of $248.70.

Analog Devices Stock Down 4.8 %

The company has a market capitalization of $107.85 billion, a P/E ratio of 66.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $216.42 and its 200 day moving average is $222.27.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 earnings per share. Research analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp boosted its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter worth about $33,000. Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the third quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Analog Devices during the third quarter valued at approximately $48,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

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.