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

Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the transaction, the chief executive officer directly owned 155,688 shares in the company, valued at approximately $47,783,760.96. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, January 2nd, Vincent Roche sold 10,000 shares of Analog Devices stock. The shares were sold at an average price of $275.07, for a total transaction of $2,750,700.00.

Analog Devices Stock Down 1.8%

Analog Devices stock traded down $5.57 during trading on Tuesday, reaching $311.29. 5,543,104 shares of the company’s stock were exchanged, compared to its average volume of 3,741,714. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $321.23. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 68.27, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company’s 50-day moving average is $285.62 and its two-hundred day moving average is $255.09.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. Analog Devices’s dividend payout ratio is 86.84%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ADI shares. Wells Fargo & Company set a $340.00 target price on Analog Devices and gave the company an “overweight” rating in a research note on Thursday, January 15th. Barclays set a $315.00 price objective on shares of Analog Devices in a research note on Thursday, January 15th. JPMorgan Chase & Co. increased their price target on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Piper Sandler set a $290.00 price objective on Analog Devices in a research note on Tuesday, November 25th. Finally, Citigroup boosted their price target on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.04.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently bought and sold shares of ADI. Jones Financial Companies Lllp grew its position in shares of Analog Devices by 12.9% in the third quarter. Jones Financial Companies Lllp now owns 169,572 shares of the semiconductor company’s stock valued at $41,907,000 after purchasing an additional 19,383 shares during the last quarter. Solstein Capital LLC lifted its holdings in shares of Analog Devices by 2.0% during the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after buying an additional 46 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Analog Devices by 684.6% in the third quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock valued at $211,871,000 after acquiring an additional 752,411 shares during the period. Voya Investment Management LLC grew its stake in shares of Analog Devices by 22.3% in the third quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock valued at $317,789,000 after acquiring an additional 236,211 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in Analog Devices by 26.4% in the 3rd quarter. AE Wealth Management LLC now owns 43,932 shares of the semiconductor company’s stock worth $10,795,000 after purchasing an additional 9,174 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.