Analog Devices (NASDAQ:ADI) Trading Up 0.5% - Time to Buy?

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s stock price was up 0.5% during mid-day trading on Wednesday . The company traded as high as $219.04 and last traded at $216.74. Approximately 484,052 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,212,393 shares. The stock had previously closed at $215.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. 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. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a "neutral" 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. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. Finally, Oppenheimer restated an "outperform" rating and issued a $245.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $249.33.

Analog Devices Stock Up 0.7 %

The firm's 50 day moving average price is $222.78 and its two-hundred day moving average price is $225.76. The company has a market capitalization of $107.72 billion, a P/E ratio of 65.88, a PEG ratio of 2.48 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. Equities research analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices's payout ratio is presently 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was 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 directly owns 21,983 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business'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 $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % 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 three months. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several large investors have recently bought and sold shares of the business. Baader Bank Aktiengesellschaft increased its holdings in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock worth $259,000 after purchasing an additional 43 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after buying an additional 43 shares during the period. Legacy Financial Advisors Inc. boosted its position in Analog Devices by 1.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after buying an additional 48 shares during the period. Quotient Wealth Partners LLC grew its holdings in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after acquiring an additional 48 shares during the last quarter. Finally, Bank of Hawaii grew its holdings in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after acquiring an additional 48 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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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