Analog Devices (ADI) Stock Price Down 5.8%

Analog Devices, Inc. (NASDAQ:ADI)’s share price fell 5.8% during trading on Monday . The company traded as low as $103.66 and last traded at $104.23. 4,900,300 shares changed hands during mid-day trading, an increase of 74% from the average session volume of 2,811,350 shares. The stock had previously closed at $110.60.

A number of brokerages have commented on ADI. Zacks Investment Research cut Analog Devices from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Analog Devices in a research note on Tuesday, April 30th. BidaskClub cut Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price target on the stock. in a research note on Monday, March 25th. Finally, BMO Capital Markets lifted their price target on Analog Devices to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $105.67.

The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.54. The company has a market cap of $38.39 billion, a PE ratio of 17.55, a P/E/G ratio of 1.64 and a beta of 1.27.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.05. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 5.45 EPS for the current fiscal year.

In other news, CAO Eileen Wynne sold 2,736 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $105.28, for a total transaction of $288,046.08. Following the transaction, the chief accounting officer now directly owns 4,888 shares of the company’s stock, valued at $514,608.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.50, for a total value of $1,165,000.00. The disclosure for this sale can be found here. Insiders have sold 112,120 shares of company stock worth $12,114,745 over the last three months. Insiders own 0.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Standard Life Aberdeen plc lifted its stake in Analog Devices by 10.9% during the third quarter. Standard Life Aberdeen plc now owns 116,364 shares of the semiconductor company’s stock valued at $10,759,000 after purchasing an additional 11,447 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Analog Devices by 52.5% during the third quarter. Renaissance Technologies LLC now owns 46,196 shares of the semiconductor company’s stock valued at $4,271,000 after purchasing an additional 15,900 shares during the last quarter. Legal & General Group Plc lifted its stake in Analog Devices by 18.3% during the third quarter. Legal & General Group Plc now owns 1,889,741 shares of the semiconductor company’s stock valued at $174,661,000 after purchasing an additional 291,836 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Analog Devices by 826.3% during the third quarter. Federated Investors Inc. PA now owns 385,742 shares of the semiconductor company’s stock valued at $35,665,000 after purchasing an additional 344,100 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Analog Devices by 1.6% during the third quarter. Vanguard Group Inc now owns 31,687,292 shares of the semiconductor company’s stock valued at $2,929,807,000 after purchasing an additional 496,719 shares during the last quarter. 91.48% of the stock is currently owned by institutional investors.

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About Analog Devices (NASDAQ:ADI)

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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