Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) CFO Sells 4,000 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $7.94 during trading on Monday, hitting $212.34. 3,457,411 shares of the company's stock were exchanged, compared to its average volume of 3,112,186. The business's 50-day simple moving average is $217.17 and its 200 day simple moving average is $219.83. The company has a market cap of $105.32 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. The company's revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADI shares. Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Oppenheimer reissued an "outperform" rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Finally, Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Institutional Investors Weigh In On Analog Devices

Several large investors have recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. boosted its position in shares of Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp purchased a new stake in Analog Devices in the fourth quarter worth $460,000. Czech National Bank boosted its stake in shares of Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock valued at $22,871,000 after purchasing an additional 6,566 shares during the period. Finally, Synergy Asset Management LLC grew its holdings in shares of Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after purchasing an additional 2,554 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

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.