Morgan Stanley Cuts Analog Devices (NASDAQ:ADI) Price Target to $248.00

Analog Devices (NASDAQ:ADI - Free Report) had its price target reduced by Morgan Stanley from $252.00 to $248.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the semiconductor company's stock.

Several other equities analysts have also issued reports on ADI. Oppenheimer reissued an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday. TD Cowen decreased 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. Finally, Truist Financial downgraded Analog Devices from a "buy" rating to a "hold" rating and decreased their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Analog Devices Trading Down 0.9 %

Shares of Analog Devices stock traded down $1.88 during midday trading on Wednesday, reaching $217.17. The company had a trading volume of 2,943,406 shares, compared to its average volume of 3,243,709. Analog Devices has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. 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 stock has a fifty day moving average price of $224.64 and a 200 day moving average price of $225.86. The firm has a market cap of $107.82 billion, a PE ratio of 65.22, a P/E/G ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices's payout ratio is 110.51%.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company's stock, valued at $879,365.43. This represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly 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 sold a total of 110,995 shares of company stock worth $25,116,338 in the last quarter. Insiders own 0.31% of the company's stock.

Institutional Trading of Analog Devices

Institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. raised its holdings in shares of Analog Devices by 19.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company's stock valued at $2,298,000 after acquiring an additional 1,893 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Analog Devices by 7.8% during the 1st quarter. Hancock Whitney Corp now owns 1,257 shares of the semiconductor company's stock valued at $249,000 after purchasing an additional 91 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Analog Devices during the 1st quarter valued at about $40,000. Atria Investments Inc increased its position in shares of Analog Devices by 0.4% during the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company's stock valued at $7,149,000 after purchasing an additional 149 shares during the last quarter. Finally, PGGM Investments bought a new position in shares of Analog Devices during the 1st quarter valued at about $166,000. Hedge funds and other 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.