Richard C. Puccio, Jr. Sells 4,000 Shares of Analog Devices, Inc. (NASDAQ:ADI) Stock

On March 19th, Richard C. Puccio, Jr., the Chief Financial Officer of Analog Devices, Inc. (NASDAQ:ADI), sold 4,000 shares of the company's stock. This sale was conducted at an average price of $209.19 per share, culminating in a total transaction value of $836,760.00. Following this sale, Puccio now holds 49,916 shares of Analog Devices, with a total value of approximately $10,441,928.04. This transaction indicates a 7.42% reduction in his ownership of the stock. The details of the sale have been disclosed in a filing with the Securities and Exchange Commission (SEC), which can be viewed for more information.

Analog Devices Stock Performance

As of Thursday, the stock of Analog Devices has fallen by $4.07, bringing its current trading value down to $205.90. During this trading session, the volume reached 2,775,421 shares, which is below the average volume of 3,099,103 shares. Over the past year, Analog Devices has experienced a low of $182.57 and a high of $247.10. The company maintains a current ratio of 1.93, a quick ratio of 1.43, and a debt-to-equity ratio of 0.19, demonstrating its financial stability. Analog Devices holds a market capitalization of $102.12 billion, with a price-to-earnings (P/E) ratio of 65.57 and a price-to-earnings growth (PEG) ratio of 2.85. Its beta is 1.07, indicating some volatility relative to the market. The firm's fifty-day moving average stands at $217.62, while the two-hundred-day moving average is $220.15, suggesting changes in stock performance trends.

Quarterly Earnings Report

On February 19th, Analog Devices released its quarterly earnings report, featuring an earnings per share (EPS) of $1.63 for the quarter, thereby surpassing analysts' expectations of $1.54 by $0.09. The company achieved a net profit margin of 16.75% and a return on equity of 8.91%, while the quarterly revenue amounted to $2.42 billion, exceeding estimates of $2.36 billion. This represents a decline of 3.6% in revenue compared to the same quarter of the previous year. Market analysts project that Analog Devices, Inc. will report an annual EPS of 7.14 for the current year.

Dividend Announcement

Analog Devices also made headlines recently by declaring a quarterly dividend that was paid out on March 17th. Shareholders who were on record as of March 4th received a dividend of $0.99 per share. The ex-dividend date for this payout was March 4th. This annualizes to a total dividend of $3.96, resulting in a dividend yield of 1.92%. The latest dividend offered marks an increase from the prior $0.92 distribution. Currently, the company's payout ratio stands at 126.11%, indicating a substantial commitment to returning capital to shareholders.

Stock Buyback Program

Further demonstrating its confidence in shareholder value, Analog Devices announced a buyback initiative on February 18th, which allows for the repurchase of up to $10.00 billion in shares. This repurchase plan empowers the company to reclaim approximately 9.2% of its shares through open market transactions, often interpreted as a sign of the board's belief that the stock is currently undervalued.

Institutional Investors' Activity

In recent months, several institutional investors have adjusted their holdings in Analog Devices. Vanguard Group Inc. increased its stake by 0.8%, now owning over 49 million shares valued at more than $10.43 billion. Similarly, State Street Corp has raised its shareholding by 0.5%, and Geode Capital Management LLC increased its position by 2.4%. Franklin Resources Inc. also grew its holdings by 14.9%, purchasing an additional 1.19 million shares recently. Overall, institutional investors now account for approximately 86.81% of the company's stock.

Recent Analyst Ratings

Various research analysts have recently reevaluated Analog Devices’ stock. Oppenheimer maintained an "outperform" rating with a price target increase to $270.00. Wells Fargo adjusted their price target up to $240.00 and designated the stock as "equal weight". Conversely, Barclays reduced its price target from $250.00 to $210.00, maintaining an "equal weight" stance. Piper Sandler also adjusted their price objective down from $235.00 to $220.00, qualifying their rating as "neutral". Truist Financial, however, raised their price target from $230.00 to $248.00, labeling the stock as a "hold". The consensus rating for Analog Devices is categorized as a "Moderate Buy," with a target price of $255.41 based on input from 24 analysts.

About Analog Devices

Analog Devices, Inc. is involved in designing and manufacturing integrated circuits (ICs), software, and subsystem products across various markets including the United States, Europe, and Asia. The firm specializes in data conversion, power management solutions, and products for diverse industries such as automotive and consumer electronics.

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