Analog Devices (NASDAQ:ADI) Stock Price Down 0.4% After Insider Selling

Analog Devices, Inc. (NASDAQ:ADI) shares fell 0.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $214.64 and last traded at $216.21. 684,650 shares changed hands during trading, a decline of 79% from the average session volume of 3,215,687 shares. The stock had previously closed at $217.12.

Specifically, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several research firms recently weighed in on ADI. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The company’s fifty day moving average price is $222.16 and its two-hundred day moving average price is $225.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market capitalization of $107.50 billion, a PE ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.70%. Analog Devices’s dividend payout ratio is presently 111.85%.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Analog Devices during the 2nd quarter worth approximately $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

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.