Insider Selling: Analog Devices (NASDAQ:ADI) CEO Sells $2,750,700.00 in Stock

Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $275.07, for a total value of $2,750,700.00. Following the completion of the sale, the chief executive officer owned 155,688 shares of the company’s stock, valued at $42,825,098.16. The trade was a 6.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Vincent Roche also recently made the following trade(s):

• On Monday, November 3rd, Vincent Roche sold 10,000 shares of Analog Devices stock. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00.

Analog Devices Stock Performance

NASDAQ:ADI opened at $292.89 on Thursday. The stock has a 50-day moving average price of $259.99 and a 200 day moving average price of $247.01. The stock has a market capitalization of $143.41 billion, a P/E ratio of 64.23, a P/E/G ratio of 1.62 and a beta of 1.03. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $294.15. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm earned $1.67 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently made changes to their positions in ADI. Howard Hughes Medical Institute bought a new position in Analog Devices during the 2nd quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in shares of Analog Devices during the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices during the third quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new stake in shares of Analog Devices in the third quarter worth approximately $32,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of Analog Devices by 92.9% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADI. Piper Sandler set a $290.00 price objective on Analog Devices in a research report on Tuesday, November 25th. Bank of America lifted their price objective on Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a report on Tuesday, December 16th. Stifel Nicolaus set a $280.00 target price on shares of Analog Devices in a report on Friday, November 21st. Finally, Wells Fargo & Company boosted their price target on shares of Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $287.22.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.