Analog Devices (NASDAQ:ADI) Trading Up 1.7% - Here's Why

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s stock price rose 1.7% on Monday . The stock traded as high as $218.59 and last traded at $218.20. Approximately 3,189,499 shares were traded during trading, a decline of 2% from the average daily volume of 3,265,104 shares. The stock had previously closed at $214.55.

Analyst Ratings Changes

Several equities research analysts have recently commented on ADI shares. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial reduced their price target on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Oppenheimer restated an "outperform" rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.33.

Analog Devices Stock Performance

The company has a fifty day moving average price of $223.17 and a two-hundred day moving average price of $225.99. The company has a market capitalization of $108.29 billion, a P/E ratio of 66.32, a PEG ratio of 2.48 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.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the company posted $2.01 EPS. The company's revenue was down 10.1% on a year-over-year basis. Equities analysts forecast 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 issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices's payout ratio is 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company's stock, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently modified their holdings of ADI. State Street Corp increased its stake in Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock valued at $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock valued at $2,377,094,000 after acquiring an additional 135,838 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 acquiring an additional 1,189,940 shares during the period. FMR LLC boosted its position in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in 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 purchasing an additional 700,862 shares during the period. 86.81% of the stock is owned by hedge funds and other 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.

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