Analog Devices, Inc. (NASDAQ:ADI) gapped down before the market opened on Tuesday . The stock had previously closed at $97.60, but opened at $95.00. Analog Devices shares last traded at $92.56, with a volume of 6047900 shares.

ADI has been the topic of a number of recent analyst reports. Loop Capital initiated coverage on Analog Devices in a research note on Thursday, June 21st. They set a “buy” rating and a $117.00 target price on the stock. BidaskClub cut Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. B. Riley lowered their target price on Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 31st. Stifel Nicolaus boosted their target price on Analog Devices from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Finally, Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Tuesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $106.81.

The company has a market capitalization of $34.40 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. analysts anticipate that Analog Devices, Inc. will post 5.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.08%. Analog Devices’s dividend payout ratio is currently 40.68%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total transaction of $262,413.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total value of $971,900.00. Following the transaction, the chief executive officer now directly owns 27,376 shares in the company, valued at $2,660,673.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,155 shares of company stock worth $9,706,583. Insiders own 1.10% of the company’s stock.

Several large investors have recently made changes to their positions in ADI. Nvwm LLC lifted its holdings in Analog Devices by 9.2% in the first quarter. Nvwm LLC now owns 6,362 shares of the semiconductor company’s stock valued at $565,000 after acquiring an additional 537 shares during the period. Naples Global Advisors LLC lifted its holdings in Analog Devices by 1.6% in the second quarter. Naples Global Advisors LLC now owns 33,888 shares of the semiconductor company’s stock valued at $3,251,000 after acquiring an additional 548 shares during the period. Peoples Financial Services CORP. lifted its holdings in Analog Devices by 4.9% in the second quarter. Peoples Financial Services CORP. now owns 11,798 shares of the semiconductor company’s stock valued at $1,132,000 after acquiring an additional 554 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Analog Devices by 1.8% in the first quarter. Segall Bryant & Hamill LLC now owns 31,369 shares of the semiconductor company’s stock valued at $2,859,000 after acquiring an additional 559 shares during the period. Finally, BerganKDV Wealth Management LLC lifted its holdings in Analog Devices by 6.0% in the second quarter. BerganKDV Wealth Management LLC now owns 10,467 shares of the semiconductor company’s stock valued at $1,004,000 after acquiring an additional 597 shares during the period. 88.02% of the stock is currently owned by hedge funds and other institutional investors.

About Analog Devices (NASDAQ:ADI)

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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