Insider Selling: Ray Stata Unloads 50,000 Shares of Analog Devices Stock (ADI)
Analog Devices (NYSE:ADI) Director Ray Stata sold 50,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $55.67, for a total value of $2,783,500.00. Following the sale, the director now directly owns 504,351 shares in the company, valued at approximately $28,077,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ADI has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Analog Devices in a research note on Tuesday, June 10th. They now have a $64.00 price target on the stock, up previously from $60.00. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Analog Devices in a research note on Tuesday, June 10th. They now have a $60.00 price target on the stock, up previously from $55.00. Finally, analysts at Argus raised their price target on shares of Analog Devices from $58.00 to $65.00 in a research note on Tuesday, June 10th. They now have a “buy” rating on the stock. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices currently has an average rating of “Hold” and a consensus target price of $56.33.
Analog Devices (NYSE:ADI) traded down 1.02% on Wednesday, hitting $55.13. The stock had a trading volume of 1,751,819 shares. Analog Devices has a 1-year low of $43.91 and a 1-year high of $56.18. The stock’s 50-day moving average is $52.52 and its 200-day moving average is $51.17. The company has a market cap of $17.319 billion and a price-to-earnings ratio of 24.67.
Analog Devices (NYSE:ADI) last released its earnings data on Tuesday, May 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $694.54 million for the quarter, compared to the consensus estimate of $670.93 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that Analog Devices will post $2.37 earnings per share for the current fiscal year.
Analog Devices, Inc (NYSE:ADI) is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits (ICs).
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