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

Analog Devices, Inc. (NASDAQ:ADI) 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 trading hands.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Truist Financial decreased their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Oppenheimer reissued an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research report on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Trading Up 3.6 %

The company has a fifty day simple moving average of $192.77 and a 200-day simple moving average of $186.93. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market cap of $97.60 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 4.67 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal 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 given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is presently 65.83%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Vivek Jain sold 3,479 shares of the company’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 directly owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,825,113 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Norges Bank bought a new stake in shares of Analog Devices during the fourth quarter worth $1,225,227,000. Capital International Investors boosted its holdings in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Analog Devices by 9.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after acquiring an additional 327,542 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.