Analog Devices, Inc. (NASDAQ:ADI) CAO Michael Sondel sells 4,830 shares

Analog Devices, Inc. (NASDAQ:ADI – Get Free Report) CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website.

Analog Device Stocks Up 0.4%

Analog Devices shares closed at $233.44 on Wednesday. The company has a debt to equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. it has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a market capitalization of $115.84 billion, a PE ratio of 54.54, a price-to-earnings growth ratio of 3.97 and a beta of 1.14. The stock’s 50-day moving average price is $202.35 and its 200-day moving average price is $194.73.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion for the quarter, compared to analyst expectations of $2.11 billion. During the same period last year, the company reported earnings per share of $2.83. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, sell-side analysts predict that Analog Devices, Inc. will report 6.16 EPS for the current financial year.

Analog Devices announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a $0.92 dividend on Tuesday, June 4. The ex-dividend date of this dividend is Tuesday, June 4. This represents an annual dividend of $3.68 and a yield of 1.58%. Analog Devices’ payout ratio is currently 85.98%.

Wall Street analysts predict growth

ADI has been the subject of several recent research reports. KeyCorp raised their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird increased their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices on Thursday, May 23rd. TD Cowen increased their target price on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley increased their price target on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen analysts have rated the stock with a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $243.23.

Read our latest stock report on ADI

Hedge funds weigh on analog devices

Several institutional investors have recently increased or decreased their stake in the company. NBC Securities Inc. acquired a new stake in Analog Devices during the third quarter worth approximately $123,000. PFG Investments LLC increased its holdings in Analog Devices by 17.4% in the third quarter. After acquiring an additional 197 shares in the last quarter, PFG Investments LLC now owns 1,331 shares of the semiconductor company’s stock valued at $233,000. Sigma Planning Corp increased its holdings in Analog Devices by 18.9% during the 3rd quarter. Sigma Planning Corp now owns 2,540 shares of the semiconductor company’s stock valued at $445,000 after acquiring an additional 404 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in Analog Devices by 448.2% during the 3rd quarter. Wealthspire Advisors LLC now owns 6,260 shares of the semiconductor company’s stock worth $1,096,000 after acquiring an additional 5,118 shares in the last quarter. Finally, in the third quarter, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Analog Devices by 7.4%. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 499,916 shares of the semiconductor company’s stock valued at $87,530,000 after acquiring an additional 34,658 shares in the last quarter. 86.81% of the shares are currently owned by institutional investors and hedge funds.

About analog devices

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Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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