Analog Devices (NASDAQ:ADI) Trading Down 0.4% - Should You Sell?

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s stock price traded down 0.4% during trading on Wednesday . The company traded as low as $207.25 and last traded at $209.56. 538,618 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,207,692 shares. The stock had previously closed at $210.43.

Analysts Set New Price Targets

Several equities analysts have issued reports on ADI shares. Truist Financial cut Analog Devices from a "buy" rating to a "hold" rating and dropped their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer restated an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America decreased their price objective 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. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Six investment 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.80.

Analog Devices Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company's 50-day moving average is $225.53 and its 200-day moving average is $225.51. The firm has a market capitalization of $103.79 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 2.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. On average, research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new position in Analog Devices during the second quarter worth $29,000. Archer Investment Corp boosted its holdings in 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 purchasing an additional 73 shares during the period. ORG Partners LLC increased its stake 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, CVA Family Office LLC raised its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 45 shares during the period. 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.

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