Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) CEO Sells 10,000 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Vincent Roche also recently made the following trade(s):

• On Friday, November 1st, Vincent Roche sold 10,000 shares of Analog Devices stock. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00.
• On Tuesday, October 1st, Vincent Roche sold 10,000 shares of Analog Devices stock. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00.

Analog Devices Stock Up 0.3 %

Shares of NASDAQ ADI opened at $217.72 on Friday. The business has a 50-day moving average of $222.40 and a two-hundred day moving average of $225.64. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The company has a market capitalization of $108.05 billion, a price-to-earnings ratio of 66.18, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company 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. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the 3rd quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in Analog Devices during the second quarter worth $29,000. Archer Investment Corp raised its holdings 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 last quarter. ORG Partners LLC boosted its position in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices in the second quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price objective 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. Morgan Stanley cut their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Bank of America reduced their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Truist Financial reduced their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

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.