Rep. Jared Moskowitz Buys Analog Devices, Inc. (NASDAQ:ADI) Shares

Representative Jared Moskowitz (D-Florida) recently bought shares of Analog Devices, Inc. NASDAQ: ADI. In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Analog Devices stock on November 8th. The trade occurred in the Representative's "MORGAN STANLEY ACTIVE ASSETS (1)" account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Elevance Health NYSE: ELV on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Tractor Supply NASDAQ: TSCO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 11/8/2024.
• Sold $50,001 - $100,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.
• Sold $15,001 - $50,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.

Analog Devices Trading Down 1.6 %

Shares of NASDAQ:ADI traded down $3.43 on Tuesday, hitting $215.61. The company had a trading volume of 2,678,976 shares, compared to its average volume of 3,222,886. The firm's 50-day simple moving average is $222.95 and its two-hundred day simple moving average is $225.88. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $107.01 billion, a price-to-earnings ratio of 65.53, a P/E/G ratio of 2.48 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping 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 last year, the company posted $2.01 EPS. The company's quarterly revenue was down 10.1% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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 given a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.71%. Analog Devices's dividend payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Oppenheimer reissued an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target for the company. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Morgan Stanley decreased their target price on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $249.33.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares of the company's stock, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $22,596,300 in the last three months. Corporate insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently bought and sold shares of ADI. State Street Corp grew its holdings in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after purchasing 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 worth $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Analog Devices by 14.9% in 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 last quarter. FMR LLC grew its holdings in Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock worth $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida's 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida's 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state's Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor's degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz's career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

Analog Devices Company Profile

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.