Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) EVP Sells 12,684 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were 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 owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Analog Devices Stock Down 0.8 %

Analog Devices stock opened at $208.94 on Friday. The business’s 50-day simple moving average is $216.86 and its two-hundred day simple moving average is $219.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $103.63 billion, a PE ratio of 66.54, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating 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 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 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Institutional Investors Weigh In On Analog Devices

Several hedge funds have recently added to or reduced their stakes in ADI. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $460,000. Czech National Bank increased its holdings in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after buying an additional 6,566 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after acquiring an additional 2,554 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Analog Devices during the 3rd quarter worth about $20,194,000. Finally, RFG Advisory LLC grew its position in shares of Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock valued at $440,000 after acquiring an additional 77 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Barclays cut their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.41.

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.