Analog Devices (NASDAQ:ADI) Stock Price Down 3.5% - What's Next?

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) dropped 3.5% during trading on Friday . The company traded as low as $220.14 and last traded at $220.35. Approximately 731,727 shares traded hands during trading, a decline of 75% from the average daily volume of 2,888,056 shares. The stock had previously closed at $228.35.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. 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. Truist Financial increased their target price on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $248.70.

Analog Devices Stock Down 4.8 %

The firm's 50 day moving average price is $216.42 and its 200-day moving average price is $222.27. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market cap of $107.85 billion, a P/E ratio of 66.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating 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%. The firm's quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.01 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is 111.85%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following 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 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company's stock.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at $28,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new stake in Analog Devices in the 4th quarter valued at about $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices during the third quarter worth about $43,000. Finally, Reston Wealth Management LLC acquired a new position in Analog Devices during the third quarter worth approximately $48,000. Institutional investors and hedge funds 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.