Analog Devices (NASDAQ:ADI) Trading Down 0.9% - Here's Why

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s share price dropped 0.9% during mid-day trading on Tuesday . The stock traded as low as $214.41 and last traded at $214.43. Approximately 626,053 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,214,770 shares. The stock had previously closed at $216.31.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Stock Performance

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 stock has a 50 day moving average price of $221.65 and a two-hundred day moving average price of $225.22. The company has a market cap of $106.12 billion, a price-to-earnings ratio of 64.99, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 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 company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the business posted $2.01 EPS. Analog Devices's revenue was down 10.1% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

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 paid a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.72%. Analog Devices's payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In related news, 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 completion of the transaction, the executive vice president now owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,000 shares of company stock valued at $24,754,600. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Analog Devices in the 2nd quarter valued at $37,000. Finally, Trifecta Capital Advisors LLC lifted its holdings in Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 158 shares during the last quarter. 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.