Analog Devices, Inc. (NASDAQ:ADI) EVP Sells $2,663,640.00 in Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analog Devices Stock Down 1.4 %

ADI stock opened at $210.53 on Thursday. The company’s 50 day moving average is $216.98 and its 200 day moving average is $219.72. The stock has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-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 net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analyst Ratings Changes

A number of research firms have recently commented on ADI. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Truist Financial lifted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fire Capital Management LLC purchased a new position in Analog Devices in the 4th quarter worth $352,000. Wellington Management Group LLP increased its holdings in shares of Analog Devices by 67.7% in the fourth quarter. Wellington Management Group LLP now owns 72,698 shares of the semiconductor company’s stock worth $15,445,000 after buying an additional 29,349 shares during the period. 111 Capital bought a new stake in shares of Analog Devices in the 4th quarter valued at about $550,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Analog Devices by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 275,604 shares of the semiconductor company’s stock valued at $58,555,000 after acquiring an additional 4,694 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in Analog Devices by 1.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 107,201 shares of the semiconductor company’s stock worth $22,776,000 after acquiring an additional 1,353 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

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.