Analog Devices (NASDAQ:ADI) shares fell to $238.44

Analog Devices, Inc. Stock (NASDAQ:ADI – Get Free Report) fell before the market opened on Thursday. The stock previously closed at $238.44 and opened at $232.55. Analog Devices stock last traded at $234.76 on volume of 148,264 shares.

The Wall Street analyst concludes

Many stock analysts have commented on the stock recently. Susquehanna increased their price target on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. Cantor Fitzgerald increased their price target on Analog from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Morgan Stanley increased their target price on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Evercore ISI initiated coverage of analog devices in a report on Tuesday, April 16. They set an “outperform” rating and a $254.00 price target on the stock. 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.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $243.23.

See our latest report on ADI

Analog device stocks fell 1.2%

The company has a market capitalization of $114.72 billion, a price-to-earnings ratio of 54.02, a price-to-earnings growth ratio of 4.04 and a beta of 1.12. The company has a debt to equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s fifty-day moving average is $212.62 and its two-hundred-day moving average is $199.31.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 for the quarter, which was $0.14 ahead of the consensus estimate of $1.26. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s quarterly revenues decreased by 33.8% compared to the same quarter last year. During the same period last year, the company reported earnings per share of $2.83. Sell-side analysts predict that Analog Devices, Inc. will see 6.22 earnings per share for the current fiscal year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Stockholders of record on Tuesday, June 4 will receive a dividend of $0.92. This represents a dividend of $3.68 on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, June 4. Analog Devices’ payout ratio is 85.98%.

Confidential activity at Analog Devices

In related news, Vice President Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction amount of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the Securities and Exchange Commission, available at this link. In related news, Director James Champy sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available at this hyperlink. Additionally, Vice President Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction amount of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The announcement of this sale can be found here. Over the last three months, insiders sold 51,349 shares of company stock worth $11,118,356. 0.31% of shares are owned by insiders.

Institutional trading in analog devices

Many institutional investors have recently modified their holdings in ADI. Kestra Advisory Services LLC increased its holdings in Analog Devices by 6.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 23,801 shares of the semiconductor company’s stock valued at $4,167,000 after acquiring an additional 1,398 shares in the last quarter. WCG Wealth Advisors LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $2,756,000. Prudential PLC increased its position in the analog equipment segment by 31.3% in the third quarter. Prudential PLC now owns 29,254 shares of the semiconductor company’s stock valued at $5,122,000 after purchasing an additional 6,969 shares in the last quarter. In the third quarter, QRG Capital Management Inc. acquired a new position in Analog Devices worth approximately $29,119,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Analog Devices during the third quarter worth $8,862,000. 86.81% of the shares are currently owned by hedge funds and other institutional investors.

About analog devices

(Get the free report)

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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