Analog Devices (NASDAQ:ADI) Shares Gap Up to $189.93

Analog Devices, Inc. (NASDAQ:ADI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $189.93, but opened at $200.03. Analog Devices shares last traded at $199.86, with a volume of 1,542,153 shares traded.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Barclays lifted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Truist Financial decreased their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Finally, The Goldman Sachs Group lifted their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Up 0.7 %

The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $98.16 billion, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 4.76 and a beta of 1.17. The company has a 50-day moving average of $193.18 and a two-hundred day moving average of $187.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $2.75 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.86%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is 65.83%.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ADI. Norges Bank purchased a new position in shares of Analog Devices in the fourth quarter worth $1,225,227,000. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Nordea Investment Management AB increased its position in Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after acquiring an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC increased its position in Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after acquiring an additional 930,732 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its position in Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after acquiring an additional 775,000 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.