Traders Buy Analog Devices (ADI) on Weakness Following Insider Selling

Traders purchased shares of Analog Devices, Inc. (NASDAQ:ADI) on weakness during trading on Monday after an insider sold shares in the company. $55.83 million flowed into the stock on the tick-up and $32.64 million flowed out of the stock on the tick-down, for a money net flow of $23.19 million into the stock. Of all companies tracked, Analog Devices had the 21st highest net in-flow for the day. Analog Devices traded down ($0.32) for the day and closed at $87.99Specifically, CAO Eileen Wynne sold 5,209 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $94.86, for a total value of $494,125.74. Following the sale, the chief accounting officer now owns 3,895 shares in the company, valued at approximately $369,479.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Margaret K. Seif sold 7,000 shares of the business’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $91.87, for a total value of $643,090.00. Following the completion of the sale, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,252,376.79. The disclosure for this sale can be found here. Insiders sold 66,164 shares of company stock worth $6,006,803 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Several research firms recently issued reports on ADI. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, April 4th. Deutsche Bank boosted their price objective on Analog Devices from $85.00 to $87.00 and gave the company a “hold” rating in a report on Thursday, March 1st. UBS upgraded Analog Devices from a “market perform” rating to an “outperform” rating in a report on Monday, March 26th. BidaskClub downgraded Analog Devices from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, Nomura boosted their price objective on Analog Devices from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.79.

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The company has a quick ratio of 1.31, a current ratio of 1.76 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $32,657.35, a price-to-earnings ratio of 19.07, a PEG ratio of 1.31 and a beta of 1.22.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.13. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. Analog Devices’s revenue was up 54.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. analysts forecast that Analog Devices, Inc. will post 5.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th were given a dividend of $0.48 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, March 8th. Analog Devices’s dividend payout ratio is currently 40.68%.

Several large investors have recently added to or reduced their stakes in ADI. Neuberger Berman Group LLC boosted its position in shares of Analog Devices by 97.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock worth $370,839,000 after acquiring an additional 2,123,268 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $87,511,000. Boston Partners acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $67,877,000. American Century Companies Inc. boosted its position in shares of Analog Devices by 69.9% in the 4th quarter. American Century Companies Inc. now owns 1,683,434 shares of the semiconductor company’s stock valued at $149,876,000 after purchasing an additional 692,814 shares during the period. Finally, Alkeon Capital Management LLC boosted its position in shares of Analog Devices by 25.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,526,537 shares of the semiconductor company’s stock valued at $217,712,000 after purchasing an additional 507,000 shares during the period. 88.56% of the stock is owned by institutional investors and hedge funds.

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About Analog Devices

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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