Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $186.73 and last traded at $194.92, with a volume of 4386576 shares. The stock had previously closed at $192.67.
Analyst Ratings Changes
ADI has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Citigroup decreased their target price on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $250.43.
Get Our Latest Report on Analog Devices
Analog Devices Stock Performance
The company has a market capitalization of $96.68 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. 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 stock's fifty day simple moving average is $200.39 and its 200-day simple moving average is $212.07.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.
Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Institutional Trading of Analog Devices
Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its position in shares of Analog Devices by 5.1% during the first quarter. Cerity Partners LLC now owns 260,460 shares of the semiconductor company's stock worth $52,527,000 after purchasing an additional 12,537 shares during the period. Alps Advisors Inc. increased its position in Analog Devices by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after purchasing an additional 60 shares during the last quarter. Stonebrook Private Inc. lifted its holdings in shares of Analog Devices by 6.0% during the 1st quarter. Stonebrook Private Inc. now owns 10,378 shares of the semiconductor company's stock valued at $2,093,000 after buying an additional 589 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Analog Devices by 11.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,465 shares of the semiconductor company's stock valued at $497,000 after buying an additional 250 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Analog Devices by 40.6% in the first quarter. Cornerstone Planning Group LLC now owns 305 shares of the semiconductor company's stock worth $62,000 after buying an additional 88 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.
About Analog Devices
(
Get Free Report)
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.
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