Analog Devices (NASDAQ:ADI) Trading Down 1.6% After Insider Selling

Shares of Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) fell 1.6% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $213.75 and last traded at $214.27. 333,208 shares changed hands during trading, a decline of 90% from the average session volume of 3,213,546 shares. The stock had previously closed at $217.72.

Specifically, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % 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 link.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald restated 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 cut their target price on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Piper Sandler reduced their target price on shares of 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, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $249.33.

Analog Devices Stock Performance

The company's 50-day moving average is $222.40 and its two-hundred day moving average is $225.64. The company has a market capitalization of $107.50 billion, a P/E ratio of 65.13, a PEG ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter valued at $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the second quarter valued at about $29,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after buying an additional 73 shares during the period. ORG Partners LLC lifted its stake in shares of 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 last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter valued at about $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.