Analog Devices (ADI) Shares Gap Down to $85.35

Analog Devices, Inc. (NASDAQ:ADI) gapped down before the market opened on Thursday . The stock had previously closed at $83.95, but opened at $85.35. Analog Devices shares last traded at $84.33, with a volume of 2442251 shares traded.

A number of brokerages have issued reports on ADI. BidaskClub cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research report on Thursday, January 4th. KeyCorp reaffirmed a “buy” rating and set a $107.00 target price on shares of Analog Devices in a research report on Friday, November 24th. B. Riley upped their target price on Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 target price on shares of Analog Devices in a research report on Tuesday, November 21st. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $97.21.

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13. The firm has a market cap of $30,812.69, a P/E ratio of 40.55, a PEG ratio of 1.53 and a beta of 1.28.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 53.4% compared to the same quarter last year. sell-side analysts anticipate that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.

In other Analog Devices news, SVP Jean Philibert sold 5,098 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total transaction of $460,043.52. Following the completion of the transaction, the senior vice president now directly owns 5,098 shares in the company, valued at $460,043.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 6,345 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $88.49, for a total value of $561,469.05. Following the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,805,549.96. The disclosure for this sale can be found here. Insiders have sold 186,061 shares of company stock valued at $16,163,741 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in ADI. Ameritas Investment Partners Inc. grew its holdings in shares of Analog Devices by 7.0% during the second quarter. Ameritas Investment Partners Inc. now owns 14,953 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 972 shares during the last quarter. 1st Global Advisors Inc. bought a new stake in shares of Analog Devices during the second quarter worth $681,000. Covington Capital Management grew its holdings in shares of Analog Devices by 1.1% during the second quarter. Covington Capital Management now owns 35,230 shares of the semiconductor company’s stock worth $2,741,000 after purchasing an additional 380 shares during the last quarter. North Star Asset Management Inc. grew its holdings in shares of Analog Devices by 3.8% during the second quarter. North Star Asset Management Inc. now owns 2,878 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 106 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in shares of Analog Devices by 27.7% during the second quarter. WINTON GROUP Ltd now owns 168,189 shares of the semiconductor company’s stock worth $13,085,000 after purchasing an additional 36,475 shares during the last quarter. Institutional investors own 86.20% of the company’s stock.

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About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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