Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Analog Devices Stock Down 1.9 %
ADI stock opened at $205.90 on Friday. The firm has a market capitalization of $102.12 billion, a PE ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The stock's 50 day moving average is $217.33 and its 200-day moving average is $220.05.
Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.92%. Analog Devices's dividend payout ratio (DPR) is 126.11%.
Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
ADI has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Truist Financial boosted their price objective 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, TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.
Get Our Latest Analysis on ADI
Hedge Funds Weigh In On Analog Devices
Several institutional investors have recently modified their holdings of ADI. Norges Bank purchased a new position in Analog Devices in the fourth quarter worth $1,755,958,000. Raymond James Financial Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth $833,386,000. Proficio Capital Partners LLC grew its position in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after buying an additional 3,059,349 shares during the period. Franklin Resources Inc. grew its position in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after buying an additional 1,186,981 shares during the last quarter. 86.81% of the stock is owned by institutional investors.
About Analog Devices
(
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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.
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