Vivek Jain Sells 12,684 Shares of Analog Devices, Inc. (NASDAQ:ADI) Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analog Devices Price Performance

Shares of ADI stock traded down $3.05 during trading hours on Wednesday, reaching $210.53. The company’s stock had a trading volume of 2,452,504 shares, compared to its average volume of 3,110,961. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a market capitalization of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07. The firm’s 50 day simple moving average is $217.13 and its 200-day simple moving average is $219.78.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

ADI has been the topic of several analyst reports. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices in the fourth quarter valued at $833,386,000. Proficio Capital Partners LLC raised its position in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock valued at $335,933,000 after buying an additional 1,186,981 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

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.