Analog Devices (NASDAQ:ADI) Stock Price Up 1% – Should You Buy?

Analog Devices, Inc. (NASDAQ:ADI)’s share price was up 1% during mid-day trading on Monday . The stock traded as high as $220.40 and last traded at $220.21. Approximately 450,180 shares traded hands during trading, a decline of 86% from the average daily volume of 3,227,025 shares. The stock had previously closed at $218.05.

Analyst Ratings Changes

Several research firms have commented on ADI. Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Bank of America decreased their price target 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. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

The business’s 50-day simple moving average is $224.14 and its two-hundred day simple moving average is $226.03. The stock has a market cap of $110.74 billion, a price-to-earnings ratio of 66.93, a price-to-earnings-growth ratio of 3.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,883,200 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several hedge funds have recently modified their holdings of ADI. State Street Corp increased its holdings in shares of Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after acquiring an additional 106,664 shares in the last quarter. Geode Capital Management LLC raised its holdings in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. raised its holdings in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. FMR LLC grew its holdings in shares of Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

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.