Analog Devices (NASDAQ:ADI) Shares Down 0.8% – Here’s What Happened

Shares of Analog Devices, Inc. (NASDAQ:ADI) traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $218.68 and last traded at $219.66. 261,530 shares were traded during mid-day trading, a decline of 92% from the average session volume of 3,222,535 shares. The stock had previously closed at $221.54.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. TD Cowen lowered their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” 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 issued an “equal weight” rating and a $220.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Performance

The firm has a market cap of $108.26 billion, a PE ratio of 66.77, a P/E/G ratio of 2.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock has a 50-day moving average price of $223.97 and a 200 day moving average price of $226.15.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Dividend Announcement

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 issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $22,596,300 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Hedge funds have recently modified their holdings of the business. Raymond James & Associates raised 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 acquiring an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. increased 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 buying an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC increased its position in Analog Devices by 23,792.4% during the third 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP grew its position 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 purchasing an additional 823,709 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.