Analog Devices (NASDAQ:ADI) Stock Price Down 0.9% – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI) was down 0.9% during trading on Tuesday . The stock traded as low as $214.41 and last traded at $214.43. Approximately 626,053 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,214,770 shares. The stock had previously closed at $216.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased 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. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Finally, Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock’s 50 day moving average is $221.14 and its 200-day moving average is $225.09. The company has a market capitalization of $103.12 billion, a P/E ratio of 63.16, a P/E/G ratio of 2.47 and a beta of 1.05.

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

Analog Devices Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.77%. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $24,754,600. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter valued at approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the second quarter valued at $29,000. Archer Investment Corp raised 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 valued at $33,000 after purchasing an additional 73 shares in the last quarter. Trifecta Capital Advisors LLC lifted its position in Analog Devices by 544.8% during the second quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 158 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Analog Devices in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.