Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain Sells 12,684 Shares

Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analog Devices Trading Down 3.5 %

NASDAQ:ADI opened at $201.56 on Friday. The firm has a market capitalization of $99.97 billion, a price-to-earnings ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business has a fifty day moving average price of $216.51 and a 200-day moving average price of $219.52. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.96%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Analog Devices

Institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the 4th quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Morgan Stanley increased their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.