Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) CEO Sells 10,000 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Vincent Roche also recently made the following trade(s):

• On Thursday, January 2nd, Vincent Roche sold 10,000 shares of Analog Devices stock. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00.

Analog Devices Trading Up 2.4 %

NASDAQ:ADI opened at $208.75 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $218.09 and a two-hundred day moving average price of $220.58. The company has a market cap of $103.53 billion, a P/E ratio of 66.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Analog Devices

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $460,000. Finally, Versor Investments LP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $952,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ADI shares. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.