Bruce R. Evans Buys 25,000 Shares of Analog Devices, Inc. (ADI) Stock
Analog Devices, Inc. (NASDAQ:ADI) Director Bruce R. Evans acquired 25,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were purchased at an average cost of $83.12 per share, with a total value of $2,078,000.00. Following the completion of the purchase, the director now directly owns 53,540 shares of the company’s stock, valued at $4,450,244.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Analog Devices, Inc. (NASDAQ:ADI) traded down 0.43% during trading on Monday, reaching $82.90. 2,713,967 shares of the company’s stock were exchanged. Analog Devices, Inc. has a 12-month low of $52.17 and a 12-month high of $84.24. The stock has a 50-day moving average price of $80.41 and a 200 day moving average price of $70.80. The company has a market capitalization of $25.63 billion, a P/E ratio of 28.27 and a beta of 1.19.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The business earned $984 million during the quarter, compared to analysts’ expectations of $871.58 million. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The company’s revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. Equities analysts expect that Analog Devices, Inc. will post $3.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Friday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, February 22nd. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. Analog Devices’s dividend payout ratio is currently 60.87%.
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ADI has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Tuesday, February 7th. Royal Bank of Canada boosted their target price on shares of Analog Devices from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. KeyCorp boosted their target price on shares of Analog Devices from $77.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, November 23rd. Vetr raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $85.00 target price for the company in a research note on Wednesday, January 11th. Finally, Deutsche Bank AG boosted their target price on shares of Analog Devices from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, November 23rd. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Analog Devices has a consensus rating of “Buy” and a consensus price target of $83.28.
Institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC acquired a new position in Analog Devices during the second quarter worth $2,345,000. Kentucky Retirement Systems acquired a new position in Analog Devices during the second quarter worth $1,480,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Analog Devices during the second quarter worth $703,000. Williams Jones & Associates LLC boosted its position in Analog Devices by 5.7% in the second quarter. Williams Jones & Associates LLC now owns 4,602 shares of the company’s stock worth $261,000 after buying an additional 250 shares in the last quarter. Finally, Evercore Wealth Management LLC boosted its position in 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. Institutional investors and hedge funds own 90.38% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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