Analog Devices (NASDAQ:ADI) Trading Up 0.2% – What’s Next?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price rose 0.2% during trading on Tuesday . The company traded as high as $233.55 and last traded at $224.01. Approximately 2,172,232 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 3,225,480 shares. The stock had previously closed at $223.58.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday. TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. The firm has a fifty day moving average of $224.64 and a 200-day moving average of $225.86.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its position 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 last quarter. Tidal Investments LLC boosted its holdings in shares of Analog Devices by 9.9% during the third quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock worth $5,596,000 after purchasing an additional 2,188 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Analog Devices by 13.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock worth $26,022,000 after purchasing an additional 13,788 shares during the last quarter. Sfmg LLC increased its stake in Analog Devices by 64.9% in the third quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company’s stock valued at $518,000 after purchasing an additional 886 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in Analog Devices by 4,581.5% during the third quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock worth $9,709,000 after buying an additional 41,279 shares during the period. 86.81% of the stock is currently owned by hedge funds and other 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.