Analog Devices (NASDAQ:ADI) Stock Price Up 0.8% - Here's What Happened

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) shares shot up 0.8% during trading on Tuesday . The company traded as high as $223.55 and last traded at $219.04. 2,467,331 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 3,226,398 shares. The stock had previously closed at $217.29.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Price Performance

The stock has a market cap of $108.71 billion, a price-to-earnings ratio of 66.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. 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 company has a 50-day simple moving average of $222.95 and a two-hundred day simple moving average of $225.88.

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. The firm 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 company's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.01 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices's dividend payout ratio is currently 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 dated Friday, November 1st. The shares were 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 in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $22,596,300 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices during the 2nd quarter valued at $29,000. Archer Investment Corp grew its stake 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 period. ORG Partners LLC lifted its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices in the second quarter worth about $37,000. 86.81% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.