Insider Selling: Analog Devices Inc. (ADI) Director Sells 7,500 Shares of Stock
Analog Devices Inc. (NASDAQ:ADI) Director John C. Hodgson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the sale, the director now owns 18,485 shares in the company, valued at $1,190,803.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Analog Devices Inc. (NASDAQ:ADI) opened at 64.68 on Thursday. Analog Devices Inc. has a 12 month low of $47.24 and a 12 month high of $66.91. The firm has a market capitalization of $19.89 billion, a PE ratio of 30.55 and a beta of 1.25. The company’s 50-day moving average price is $62.90 and its 200 day moving average price is $59.70.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 19.40% and a net margin of 19.49%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, equities research analysts predict that Analog Devices Inc. will post $2.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, August 24th. Analog Devices’s dividend payout ratio is 79.62%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC increased its position in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock worth $100,000 after buying an additional 123 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Analog Devices during the first quarter worth approximately $105,000. Meeder Asset Management Inc. purchased a new stake in shares of Analog Devices during the first quarter worth approximately $112,000. Quadrant Capital Group LLC raised its stake in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock worth $131,000 after buying an additional 384 shares during the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth approximately $146,000. 85.71% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on ADI shares. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $58.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Morgan Stanley reaffirmed a “buy” rating and issued a $78.00 price target on shares of Analog Devices in a research note on Thursday, August 18th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Analog Devices in a research note on Thursday, August 18th. Pacific Crest reaffirmed a “buy” rating on shares of Analog Devices in a research note on Sunday, September 11th. Finally, Stifel Nicolaus boosted their price target on Analog Devices from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $70.64.
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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