Analog Devices (NASDAQ:ADI) Shares Down 3.5% – What’s Next?

Analog Devices, Inc. (NASDAQ:ADI)’s share price traded down 3.5% on Friday . The company traded as low as $220.14 and last traded at $220.35. 731,727 shares were traded during trading, a decline of 75% from the average session volume of 2,888,056 shares. The stock had previously closed at $228.35.

Analyst Ratings Changes

ADI has been the subject of several research reports. Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Performance

The company’s 50-day moving average price is $216.20 and its 200 day moving average price is $222.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock has a market capitalization of $107.83 billion, a PE ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the third quarter worth about $43,000. Reston Wealth Management LLC acquired a new position in shares of Analog Devices in the 3rd quarter valued at approximately $48,000. Finally, Crews Bank & Trust acquired a new position in Analog Devices during the fourth quarter valued at approximately $50,000. 86.81% of the stock is owned by institutional investors and hedge funds.

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.