Analog Devices (NASDAQ:ADI) Trading 1.7% Higher – Still a Buy?

Analog Devices, Inc. (NASDAQ:ADI) shares traded up 1.7% on Monday . The company traded as high as $218.59 and last traded at $218.20. 3,189,499 shares were traded during mid-day trading, a decline of 2% from the average session volume of 3,265,104 shares. The stock had previously closed at $214.55.

Analysts Set New Price Targets

ADI has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Stock Up 1.7 %

The stock’s fifty day moving average price is $223.17 and its 200 day moving average price is $225.99. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market cap of $108.29 billion, a P/E ratio of 66.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baader Bank Aktiengesellschaft increased its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the period. Grove Bank & Trust boosted its position in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Analog Devices by 1.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares during the period. Quotient Wealth Partners LLC raised its position in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after acquiring an additional 48 shares in the last quarter. Finally, Bank of Hawaii lifted its stake in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.