Analog Devices (NASDAQ:ADI) Stock Price Down 0.8% – Here’s Why

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ADI shares. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Price Performance

The stock has a 50 day moving average price of $223.45 and a two-hundred day moving average price of $226.02. 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 firm has a market capitalization of $106.98 billion, a price-to-earnings ratio of 65.21, a PEG ratio of 2.52 and a beta of 1.05.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $22,596,300 in the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in Analog Devices during the second quarter worth approximately $29,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Analog Devices in the second quarter valued at $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.