Analog Devices Inc. (ADI) SVP Martin Cotter Sells 10,000 Shares of Stock
Analog Devices Inc. (NASDAQ:ADI) SVP Martin Cotter sold 10,000 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $62.91, for a total value of $629,100.00. Following the completion of the sale, the senior vice president now owns 10,064 shares of the company’s stock, valued at $633,126.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Analog Devices Inc. (NASDAQ:ADI) opened at 63.93 on Thursday. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 30.20 and a beta of 1.21. The company has a 50-day moving average of $62.93 and a 200-day moving average of $59.44. Analog Devices Inc. has a 1-year low of $47.24 and a 1-year high of $66.91.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business earned $870 million during the quarter, compared to analysts’ expectations of $847.43 million. During the same period last year, the company posted $0.77 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts anticipate that Analog Devices Inc. will post $2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Friday, August 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%. Analog Devices’s payout ratio is currently 79.62%.
A number of brokerages have weighed in on ADI. B. Riley reiterated a “buy” rating and set a $73.00 price target on shares of Analog Devices in a report on Wednesday, July 27th. Deutsche Bank AG increased their price target on Analog Devices from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. MKM Partners increased their price target on Analog Devices from $56.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Oppenheimer Holdings Inc. upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Wednesday, July 27th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Analog Devices in a report on Tuesday, June 14th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $70.68.
Several institutional investors have recently modified their holdings of ADI. Evercore Wealth Management LLC raised its stake in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the period. Carnick & Kubik Group LLC purchased a new stake in Analog Devices during the second quarter valued at about $589,000. Williams Jones & Associates LLC raised its stake in Analog Devices by 5.7% in the second quarter. Williams Jones & Associates LLC now owns 4,602 shares of the company’s stock valued at $261,000 after buying an additional 250 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Analog Devices during the second quarter valued at about $703,000. Finally, Kentucky Retirement Systems purchased a new stake in Analog Devices during the second quarter valued at about $1,480,000. 85.71% of the stock is owned by institutional investors and hedge funds.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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