Analog Devices (NASDAQ:ADI) Shares Up 3.1% – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI) shares shot up 3.1% during trading on Monday . The company traded as high as $221.58 and last traded at $221.29. 1,260,396 shares changed hands during trading, a decline of 61% from the average session volume of 3,205,092 shares. The stock had previously closed at $214.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Price Performance

The firm has a market cap of $107.82 billion, a P/E ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The stock’s 50-day moving average is $224.64 and its 200-day moving average is $225.86. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 110.51%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,995 shares of company stock worth $25,116,338. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth approximately $29,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 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.