Peter Real Sells 6,500 Shares of Analog Devices Inc. (ADI) Stock
Analog Devices Inc. (NASDAQ:ADI) SVP Peter Real sold 6,500 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $64.14, for a total transaction of $416,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,786 shares of the company’s stock, valued at $884,234.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Analog Devices Inc. (NASDAQ:ADI) opened at 64.45 on Friday. The stock’s 50 day moving average is $62.94 and its 200-day moving average is $59.53. Analog Devices Inc. has a one year low of $47.24 and a one year high of $66.91. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 30.44 and a beta of 1.21.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $870 million for the quarter, compared to the consensus estimate of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. On average, equities research analysts expect that Analog Devices Inc. will post $2.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Wednesday, August 24th. Analog Devices’s payout ratio is presently 79.62%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Tuesday. Pacific Crest reaffirmed a “buy” rating on shares of Analog Devices in a research note on Sunday, September 11th. Stifel Nicolaus upped their target price on shares of Analog Devices from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. B. Riley reaffirmed a “buy” rating and issued a $74.00 target price on shares of Analog Devices in a research note on Saturday, August 20th. Finally, Argus reaffirmed a “buy” rating and issued a $73.00 target price on shares of Analog Devices in a research note on Thursday, August 18th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and an average price target of $70.68.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Analog Devices by 2.1% in the first quarter. Legal & General Group Plc now owns 1,300,917 shares of the company’s stock worth $76,999,000 after buying an additional 27,162 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock worth $35,312,000 after buying an additional 339,513 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Analog Devices during the first quarter worth about $112,000. Zurich Insurance Group Ltd FI acquired a new position in Analog Devices during the first quarter worth about $1,547,000. Finally, Nuveen Asset Management LLC increased its position in Analog Devices by 46.0% in the first quarter. Nuveen Asset Management LLC now owns 128,706 shares of the company’s stock worth $7,618,000 after buying an additional 40,544 shares during the last quarter. 85.71% of the stock is currently owned by hedge funds and other institutional investors.
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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