Analog Devices (NASDAQ:ADI) Shares Down 4.3% - Here's What Happened

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s stock price fell 4.3% on Wednesday . The company traded as low as $223.06 and last traded at $225.27. 499,052 shares traded hands during trading, a decline of 86% from the average session volume of 3,599,303 shares. The stock had previously closed at $235.50.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADI. Benchmark reiterated a "buy" rating and set a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Oppenheimer upped their price target on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Stifel Nicolaus upped their price target on Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, July 18th. KeyCorp upped their price target on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Price Performance

The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $230.63 and a two-hundred day moving average price of $215.26. The stock has a market capitalization of $113.06 billion, a P/E ratio of 62.08, a P/E/G ratio of 2.09 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The company's revenue was up 22.3% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices's payout ratio is 107.90%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $3,327,994 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Large investors have recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 127 shares during the period. RMG Wealth Management LLC bought a new stake in shares of Analog Devices during the 2nd quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at about $27,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Analog Devices during the 1st quarter valued at about $27,000. 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.