Analog Devices, Inc. (NASDAQ:ADI) CFO Sells $836,760.00 in Stock

Analog Devices, Inc. (NASDAQ:ADI) CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analog Devices Trading Down 0.7 %

Shares of ADI opened at $204.40 on Friday. The business’s 50-day moving average price is $217.17 and its 200-day moving average price is $219.84. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The stock has a market cap of $101.38 billion, a PE ratio of 65.10, 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 (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.94%. Analog Devices’s dividend payout ratio is currently 126.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.