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

CFO Richard C. Puccio, Jr. of Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) recently sold 4,000 shares of the company's stock on Wednesday, March 19th. The shares were sold at an average price of $209.19, giving a total transaction value of $836,760.00. Following this sale, Puccio retains ownership of 49,916 shares, which are valued at around $10,441,928.04. This sale indicates a 7.42% decrease in his total holdings of the stock. The details of the transaction have been filed with the SEC and are available for public viewing.

Current Stock Performance

On Thursday, Analog Devices stock traded down by $4.07 to reach a price of $205.90. The trading volume was recorded at 2,775,421 shares, lower than its average of 3,099,103 shares. Over the past year, the company's stock has seen a low of $182.57 and a high of $247.10. Currently, Analog Devices, Inc. has a market capitalization of $102.12 billion and a P/E ratio of 65.57. Additionally, the company has a debt-to-equity ratio of 0.19, with a current ratio of 1.93 and a quick ratio of 1.43.

Quarterly Earnings Report

Analog Devices released its latest quarterly earnings data on February 19th. The company reported earnings per share (EPS) of $1.63 for the quarter, which surpassed the analysts' consensus estimate of $1.54 by $0.09. The firm recorded a net margin of 16.75% and a return on equity of 8.91%, with revenue totaling $2.42 billion, above the anticipated $2.36 billion. However, this revenue reflects a decline of 3.6% compared to the same quarter from the previous year. Analyst predictions estimate an EPS of 7.14 for the current year.

Dividend Increase Announcement

Recently, Analog Devices also declared a quarterly dividend that was paid on March 17th. Shareholders on record as of March 4th received a dividend of $0.99, which is an increase from the previous amount of $0.92. This translates into an annualized dividend of $3.96, offering a dividend yield of 1.92%. The company's payout ratio currently stands at 126.11%.

Stock Buyback Program

On February 18th, the board of Analog Devices authorized a stock buyback program, allowing the company to repurchase up to $10.00 billion worth of shares. This authorization corresponds to approximately 9.2% of its total shares through open market purchases. Stock repurchase initiatives are often considered indicative of a company's belief that its shares are undervalued.

Institutional Investor Activities

Several institutional investors have recently made adjustments to their stakes in Analog Devices. For instance, Vanguard Group Inc. raised its holdings by 0.8% in the fourth quarter, now owning 49,105,529 shares valued at $10.43 billion after acquiring an additional 413,084 shares. Also, State Street Corp increased its stake by 0.5%, owning 22,571,586 shares worth $5.20 billion. Institutional ownership of the company stands at 86.81%.

Research Analyst Perspectives

A number of equities analysts have updated their coverage on Analog Devices. Oppenheimer maintained an "outperform" rating with a new price target of $270.00, up from $245.00. Wells Fargo and Company increased their target from $220.00 to $240.00, endorsing an "equal weight" rating. Meanwhile, Barclays decreased their price target from $250.00 to $210.00 while maintaining an "equal weight" rating, and Piper Sandler lowered their price objective from $235.00 to $220.00 with a "neutral" rating. A consensus based on various analysts provides a moderate buy recommendation with an average price target of $255.41.

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