Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) CFO Sells 4,000 Shares of Stock

Analog Devices, Inc. (NASDAQ:ADI) CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analog Devices Price Performance

ADI stock traded down $4.07 during trading on Thursday, hitting $205.90. 2,775,421 shares of the stock traded hands, compared to its average volume of 3,099,103. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market cap of $102.12 billion, a price-to-earnings ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50 day simple moving average of $217.62 and a 200 day simple moving average of $220.15. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.92%. Analog Devices’s payout ratio is currently 126.11%.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Williams Trading set a $245.00 target price on shares of Analog Devices in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Hedge Funds Weigh In On Analog Devices

Institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $27,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $30,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

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.