Analog Devices (NASDAQ:ADI) Trading Up 1% – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI)’s stock price shot up 1% on Monday . The stock traded as high as $220.40 and last traded at $220.21. 450,180 shares traded hands during trading, a decline of 86% from the average session volume of 3,227,025 shares. The stock had previously closed at $218.05.

Analyst Ratings Changes

Several research analysts recently weighed in on ADI shares. TD Cowen cut their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial decreased their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Trading Up 2.3 %

The firm’s 50 day moving average is $224.14 and its 200 day moving average is $226.03. The company has a market cap of $110.74 billion, a PE ratio of 66.93, a PEG ratio of 3.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.65%. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $24,883,200 over the last three months. 0.31% of the stock is owned by insiders.

Institutional Trading of Analog Devices

Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank increased its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd boosted its position in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Summit Global Investments bought a new stake in shares of Analog Devices during the third quarter valued at approximately $867,000. Finally, Versor Investments LP purchased a new stake in shares of Analog Devices in the 3rd quarter worth about $952,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.