Analog Devices (NASDAQ:ADI) Shares Gap Up to $189.93

Shares of Analog Devices, Inc. (NASDAQ:ADI) gapped up before the market opened on Wednesday . The stock had previously closed at $189.93, but opened at $200.03. Analog Devices shares last traded at $199.86, with a volume of 1,542,153 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective on the stock. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a report on Thursday, January 4th. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The stock’s 50-day simple moving average is $193.18 and its 200 day simple moving average is $187.08. The stock has a market capitalization of $98.16 billion, a P/E ratio of 35.41, a PEG ratio of 4.76 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 earnings per share. Research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is presently 65.83%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. raised its stake in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas raised its stake in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the third quarter worth about $29,000. Cetera Trust Company N.A acquired a new position in Analog Devices during the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Analog Devices during the fourth quarter worth about $29,000. Institutional investors and hedge funds 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.