Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) shot up 1% during mid-day trading on Friday . The stock traded as high as $217.11 and last traded at $216.64. 419,067 shares traded hands during trading, a decline of 87% from the average session volume of 3,217,539 shares. The stock had previously closed at $214.55.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ADI. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target on the stock. Finally, Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.
Get Our Latest Research Report on ADI
Analog Devices Trading Up 0.8 %
The firm has a market cap of $107.35 billion, a PE ratio of 65.85, a PEG ratio of 2.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock's fifty day simple moving average is $223.45 and its 200-day simple moving average is $226.02.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices's revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current year.
Analog Devices Announces Dividend
The business 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 dividend on an annualized basis and a dividend yield of 1.70%. 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 Analog Devices stock in a transaction dated 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 transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is owned by company insiders.
Institutional Trading of Analog Devices
Large investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after acquiring an additional 106,664 shares during the last quarter. Geode Capital Management LLC increased its position in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock worth $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. raised its stake in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. FMR LLC boosted its holdings in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock valued at $1,078,617,000 after buying an additional 700,862 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.
About Analog Devices
(
Get Free Report)
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.
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