Analog Devices, Inc. (NASDAQ:ADI) Director Sells $239,501.50 in Stock

Analog Devices, Inc. (NASDAQ:ADI – Get Rating) Director Edward H. Frank sold 1,435 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $166.90, for a total transaction of $239,501.50. Following the completion of the sale, the director now directly owns 2,525 shares of the company’s stock, valued at approximately $421,422.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of ADI traded down $3.63 during trading hours on Wednesday, reaching $164.77. 3,274,835 shares of the stock traded hands, compared to its average volume of 3,893,424. The company has a current ratio of 1.99, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 52-week low of $143.81 and a 52-week high of $191.95. The company’s 50-day moving average price is $160.24 and its two-hundred day moving average price is $165.59. The company has a market cap of $85.65 billion, a P/E ratio of 46.77, a price-to-earnings-growth ratio of 1.48 and a beta of 1.07.

Analog Devices (NASDAQ:ADI – Get Rating) last released its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.29. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company earned $1.54 EPS. Analog Devices’s revenue for the quarter was up 78.9% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 9.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Tuesday, May 31st will be issued a $0.76 dividend. The ex-dividend date is Friday, May 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. Analog Devices’s dividend payout ratio is currently 86.12%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. City State Bank increased its holdings in Analog Devices by 8.1% in the 1st quarter. City State Bank now owns 1,328 shares of the semiconductor company’s stock valued at $219,000 after acquiring an additional 100 shares during the last quarter. Gradient Investments LLC increased its holdings in Analog Devices by 10.8% in the 1st quarter. Gradient Investments LLC now owns 80,403 shares of the semiconductor company’s stock valued at $13,281,000 after acquiring an additional 7,834 shares during the last quarter. Ninety One UK Ltd bought a new stake in Analog Devices in the 1st quarter valued at $66,552,000. Fortitude Advisory Group L.L.C. increased its holdings in Analog Devices by 39.4% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,054 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 298 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Analog Devices by 14.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,382 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

A number of research firms have commented on ADI. Daiwa Capital Markets cut their target price on shares of Analog Devices from $217.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. The Goldman Sachs Group cut their target price on shares of Analog Devices from $207.00 to $183.00 and set a “buy” rating for the company in a research report on Tuesday, April 5th. Truist Financial lifted their target price on shares of Analog Devices from $194.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, May 19th. Morgan Stanley lifted their target price on shares of Analog Devices from $194.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 17th. Finally, Oppenheimer reiterated an “outperform” rating and set a $210.00 price target on shares of Analog Devices in a research note on Monday, May 16th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Buy” and a consensus target price of $199.52.

About Analog Devices (Get Rating)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

• Get a free copy of the StockNews.com research report on Analog Devices (ADI)
• The Analysts Like The Fit Of Victoria’s Secret & Co 
• Ambarella Is A Buy For Patient Investors 
• Don’t Bet On A Big Rebound For Salesforce.com Stock 
• 3 Specialty Retailers with Special Upside
• Is Roku (NASDAQ: ROKU) Bottoming Out?

Want More Great Investing Ideas?