Gregory M. Bryant Sells 20,000 Shares of Analog Devices, Inc. (NASDAQ:ADI) Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analog Devices Price Performance

Shares of ADI traded down $1.29 during trading hours on Monday, reaching $224.19. 1,598,358 shares of the company traded hands, compared to its average volume of 3,209,347. The stock has a market capitalization of $111.31 billion, a PE ratio of 67.71, a price-to-earnings-growth ratio of 3.70 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $227.19 and a 200 day simple moving average of $223.57. Analog Devices, Inc. has a fifty-two week low of $165.59 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm posted $2.49 EPS. The company’s revenue was down 24.8% on a year-over-year basis. As a group, research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 110.51%.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds have recently made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in Analog Devices in the 2nd quarter worth $29,000. ORG Partners LLC boosted its position in Analog Devices by 675.0% in 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 last quarter. CVA Family Office LLC increased its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the second quarter worth about $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADI. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.