Analog Devices, Inc. (NASDAQ:ADI) EVP Sells $6,867,900.00 in Stock

Analog Devices, Inc. (NASDAQ:ADI) 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 transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analog Devices Stock Up 0.7 %

Analog Devices stock opened at $228.23 on Friday. The firm has a 50 day simple moving average of $222.83 and a 200 day simple moving average of $218.35. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a market capitalization of $113.25 billion, a price-to-earnings ratio of 53.32, a P/E/G ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Finally, Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently bought and sold shares of the company. New Millennium Group LLC bought a new position in Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co bought a new stake in Analog Devices during the first quarter valued at $30,000. ORG Partners LLC grew its position in Analog Devices by 675.0% during 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 in the last quarter. CVA Family Office LLC increased its stake in Analog Devices by 40.2% in the 2nd 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 purchased a new stake in shares of Analog Devices in the 2nd quarter valued at about $37,000. 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.