Analog Devices (NASDAQ:ADI) Shares Down 0.4% - Time to Sell?

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s share price fell 0.4% during mid-day trading on Thursday . The company traded as low as $214.64 and last traded at $216.21. 684,650 shares changed hands during trading, a decline of 79% from the average session volume of 3,215,687 shares. The stock had previously closed at $217.12.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Truist Financial lowered their target price 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. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $249.33.

Analog Devices Price Performance

The stock has a market cap of $108.05 billion, a price-to-earnings ratio of 65.72, a P/E/G ratio of 2.48 and a beta of 1.05. The company has a 50 day simple moving average of $222.57 and a 200-day simple moving average of $225.70. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm earned $2.01 EPS. Analog Devices's revenue for the quarter was down 10.1% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices's payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $24,754,600. Insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of large investors have recently added to or reduced their stakes in ADI. ORG Partners LLC raised its holdings in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 135 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Analog Devices by 3.7% during the second quarter. Cornerstone Wealth Management LLC now owns 2,197 shares of the semiconductor company's stock worth $502,000 after purchasing an additional 78 shares during the period. Baader Bank Aktiengesellschaft increased its stake in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock worth $259,000 after purchasing an additional 43 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Analog Devices by 0.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 183,490 shares of the semiconductor company's stock worth $44,649,000 after purchasing an additional 651 shares during the last quarter. Finally, Silver Lake Advisory LLC bought a new stake in Analog Devices in the 2nd quarter valued at $213,000. 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.