Analog Devices, Inc. (NASDAQ:ADI) CEO Sells $2,154,900.00 in Stock

Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vincent Roche also recently made the following trade(s):

• On Wednesday, December 11th, Vincent Roche sold 10,000 shares of Analog Devices stock. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00.
• On Friday, November 1st, Vincent Roche sold 10,000 shares of Analog Devices stock. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00.

Analog Devices Trading Up 1.9 %

ADI opened at $215.37 on Monday. The company’s 50 day moving average is $217.62 and its 200-day moving average is $223.30. The company has a market cap of $106.89 billion, a P/E ratio of 65.46, a PEG ratio of 2.47 and a beta of 1.05. Analog Devices, Inc. has a 1-year low of $181.80 and a 1-year high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $2.01 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. Analog Devices’s payout ratio is presently 111.85%.

Institutional Trading of Analog Devices

A number of hedge funds have recently made changes to their positions in ADI. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Franklin Resources Inc. raised its position in Analog Devices by 14.9% during the 3rd 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. International Assets Investment Management LLC lifted its holdings in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP increased its stake in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after buying an additional 823,709 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADI has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. TD Cowen cut their price objective on shares of 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 restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Piper Sandler dropped 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. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $249.33.

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.