Analog Devices (NASDAQ:ADI) Shares Down 0.8% – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI)’s share price fell 0.8% during mid-day trading on Thursday . The company traded as low as $215.42 and last traded at $216.51. 302,529 shares changed hands during trading, a decline of 91% from the average session volume of 3,220,352 shares. The stock had previously closed at $218.30.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley lowered their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Trading Down 1.6 %

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’s fifty day moving average price is $223.80 and its two-hundred day moving average price is $226.10. The firm has a market cap of $106.63 billion, a PE ratio of 65.81, a P/E/G ratio of 2.52 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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 is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.71%. 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 that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $22,596,300 over the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC purchased a new position in Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp lifted its stake in shares of 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 purchasing an additional 73 shares in the last quarter. ORG Partners LLC boosted its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices during the 2nd quarter valued at about $37,000. 86.81% of the stock is currently 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.