Analog Devices (NASDAQ:ADI) Stock Price Down 0.4% – Time to Sell?

Shares of Analog Devices, Inc. (NASDAQ:ADI) traded down 0.4% during trading on Wednesday . The company traded as low as $207.25 and last traded at $209.56. 538,618 shares traded hands during trading, a decline of 83% from the average session volume of 3,207,692 shares. The stock had previously closed at $210.43.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.38.

Analog Devices Trading Up 1.1 %

The firm has a market cap of $105.93 billion, a P/E ratio of 64.07, a P/E/G ratio of 2.97 and a beta of 1.08. The stock has a 50 day simple moving average of $225.09 and a 200-day simple moving average of $225.33. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently bought and sold shares of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter valued at $28,000. New Millennium Group LLC bought a new stake in Analog Devices during the second quarter valued at about $29,000. Archer Investment Corp grew its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC raised its holdings in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other 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.