Insider Selling: Analog Devices, Inc. (ADI) Director Sells $4,164,500.00 in Stock
Analog Devices, Inc. (NASDAQ:ADI) Director Ray Stata sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $83.29, for a total value of $4,164,500.00. Following the completion of the sale, the director now directly owns 259,481 shares in the company, valued at approximately $21,612,172.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Analog Devices, Inc. (NASDAQ:ADI) opened at 82.90 on Tuesday. The firm has a 50-day moving average of $80.41 and a 200 day moving average of $70.80. Analog Devices, Inc. has a 1-year low of $52.17 and a 1-year high of $84.24. The firm has a market cap 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.20. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The firm had revenue of $984 million for the quarter, compared to the consensus estimate of $871.58 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post $3.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Friday, February 24th were paid a dividend of $0.45 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.17%. Analog Devices’s payout ratio is 60.87%.
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A number of large investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its stake in Analog Devices by 33.0% in the third quarter. First Eagle Investment Management LLC now owns 4,031,950 shares of the company’s stock valued at $259,859,000 after buying an additional 1,001,397 shares during the period. Shelton Capital Management increased its stake in Analog Devices by 6.8% in the fourth quarter. Shelton Capital Management now owns 34,598 shares of the company’s stock valued at $2,513,000 after buying an additional 2,200 shares during the period. Emerald Acquisition Ltd. increased its stake in Analog Devices by 6.6% in the third quarter. Emerald Acquisition Ltd. now owns 195,773 shares of the company’s stock valued at $12,613,000 after buying an additional 12,109 shares during the period. US Bancorp DE increased its stake in Analog Devices by 24.0% in the third quarter. US Bancorp DE now owns 149,228 shares of the company’s stock valued at $9,617,000 after buying an additional 28,852 shares during the period. Finally, Hermes Investment Management Ltd. increased its stake in Analog Devices by 20.1% in the third quarter. Hermes Investment Management Ltd. now owns 871,108 shares of the company’s stock valued at $56,143,000 after buying an additional 145,504 shares during the period. 90.38% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. B. Riley restated a “buy” rating and issued a $87.00 price target on shares of Analog Devices in a research note on Monday, November 28th. Jefferies Group LLC boosted their price target on shares of Analog Devices to $100.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target on shares of Analog Devices in a research note on Monday, March 13th. Credit Suisse Group AG assumed coverage on shares of Analog Devices in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, KeyCorp boosted their price target on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 23rd. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $83.28.
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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