Analog Devices (NASDAQ:ADI) Shares Gap Up to $189.93

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $189.93, but opened at $200.03. Analog Devices shares last traded at $199.86, with a volume of 1,542,153 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Sanford C. Bernstein cut Analog Devices from an "outperform" rating to a "market perform" rating and set a $200.00 price objective on the stock. in a research report on Thursday, January 4th. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday, April 16th. They set an "outperform" rating and a $254.00 price objective on the stock. Wolfe Research raised Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price objective on the stock in a research report on Thursday, January 18th. Truist Financial dropped their price objective on Analog Devices from $226.00 to $222.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group increased their price objective on Analog Devices from $191.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $208.17.

Analog Devices Price Performance

The firm has a 50 day moving average price of $192.97 and a 200 day moving average price of $187.00. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $97.45 billion, a P/E ratio of 35.15, a P/E/G ratio of 4.67 and a beta of 1.17.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business's revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is a boost from Analog Devices's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. Analog Devices's payout ratio is 65.83%.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the business's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at approximately $10,075,098.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company's stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,825,113 in the last quarter. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its position in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas increased its position in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company's stock valued at $28,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the 3rd quarter valued at about $29,000. Cetera Trust Company N.A acquired a new position in Analog Devices during the 4th quarter valued at about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Analog Devices during the 4th quarter valued at about $29,000. 86.81% of the stock is 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.