Vivek Jain Sells 12,684 Shares of Analog Devices, Inc. (NASDAQ:ADI) Stock

Analog Devices, Inc. (NASDAQ:ADI) EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analog Devices Trading Down 0.8 %

Shares of ADI stock opened at $208.94 on Friday. The company has a market cap of $103.63 billion, a PE ratio of 66.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock’s 50 day simple moving average is $216.86 and its two-hundred day simple moving average is $219.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share 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 repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.90%. Analog Devices’s dividend payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Hedge Funds Weigh In On Analog Devices

A number of large investors have recently bought and sold shares of ADI. Bank of Hawaii lifted its position in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the last quarter. Midwest Professional Planners LTD. lifted its holdings in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its position in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares during the period. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares in the last quarter. Finally, West Oak Capital LLC increased its holdings in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after purchasing an additional 55 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.