Analog Devices (NASDAQ:ADI) Shares Gap Down After Analyst Downgrade

Analog Devices, Inc. (NASDAQ:ADI – Get Rating) gapped down before the market opened on Wednesday after BMO Capital Markets lowered their price target on the stock from $215.00 to $200.00. The stock had previously closed at $187.92, but opened at $171.50. Analog Devices shares last traded at $173.96, with a volume of 2,481,238 shares.

ADI has been the topic of a number of other reports. Citigroup lowered their price target on shares of Analog Devices from $225.00 to $200.00 in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of Analog Devices from $190.00 to $185.00 in a research report on Thursday. Truist Financial lowered their price target on shares of Analog Devices from $251.00 to $213.00 in a research report on Thursday. StockNews.com raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Finally, Credit Suisse Group raised their price target on shares of Analog Devices from $185.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,495 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total value of $277,232.80. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the transaction, the chief financial officer now owns 23,871 shares in the company, valued at approximately $4,464,115.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total transaction of $277,232.80. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC bought a new stake in Analog Devices during the 4th quarter valued at $25,000. Silicon Valley Capital Partners bought a new position in Analog Devices during the first quarter worth about $27,000. My Personal CFO LLC bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $29,000. Magellan Asset Management Ltd bought a new position in shares of Analog Devices in the first quarter valued at approximately $30,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Analog Devices in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analog Devices Price Performance

The firm has a market capitalization of $87.20 billion, a PE ratio of 26.00, a P/E/G ratio of 1.44 and a beta of 1.15. The business’s 50 day moving average is $186.11 and its two-hundred day moving average is $176.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50.

Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the business posted $2.40 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 10.65 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 2nd. Analog Devices’s payout ratio is currently 51.89%.

About Analog Devices

(Get Rating)

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.