Analog Devices (NASDAQ:ADI) Stock Price Down 0.4% – Should You Sell?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price traded down 0.4% on Friday . The stock traded as low as $211.54 and last traded at $213.18. 218,863 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 3,202,750 shares. The stock had previously closed at $213.96.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company began coverage on Analog Devices in a report on Friday. They set an “equal weight” rating and a $220.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average is $224.87 and its two-hundred day moving average is $225.56. The stock has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Charles Schwab Investment Management Inc. increased its stake in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares in the last quarter. Summit Global Investments purchased a new position in shares of Analog Devices in the 3rd quarter valued at $867,000. Versor Investments LP acquired a new stake in Analog Devices during the 3rd quarter worth $952,000. Finally, Tidal Investments LLC lifted its position in Analog Devices by 24.9% in the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after acquiring an additional 6,314 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

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.