Analog Devices (NASDAQ:ADI) Shares Down 0.3% - What's Next?

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) shares dropped 0.3% during mid-day trading on Monday . The stock traded as low as $213.66 and last traded at $215.90. Approximately 492,742 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,213,543 shares. The stock had previously closed at $216.61.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Truist Financial cut their price target on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Oppenheimer reissued an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Stock Performance

The stock has a fifty day simple moving average of $221.96 and a two-hundred day simple moving average of $225.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock has a market capitalization of $107.35 billion, a price-to-earnings ratio of 65.75, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping 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 analysts' expectations of $2.41 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The firm's revenue was down 10.1% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.70%. Analog Devices's dividend payout ratio is presently 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $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 110,000 shares of company stock valued at $24,754,600 in the last three months. Corporate insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently modified their holdings of ADI. Grove Bank & Trust lifted its stake in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock valued at $795,000 after purchasing an additional 48 shares during the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after purchasing an additional 48 shares in the last quarter. Bank of Hawaii raised its position in shares of Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 48 shares during the period. Finally, SouthState Corp grew its holdings in shares of Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company's stock worth $51,000 after purchasing an additional 50 shares in the last quarter. 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.