Insider Selling: Analog Devices Director Sells 17,951 Shares of Stock (ADI)
Analog Devices (NYSE:ADI) Director F Grant Saviers sold 17,951 shares of the company’s stock on the open market in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $54.55, for a total transaction of $979,227.05. Following the completion of the transaction, the director now directly owns 14,655 shares in the company, valued at approximately $799,430. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Analog Devices (NYSE:ADI) traded down 0.65% on Wednesday, hitting $53.52. 609,501 shares of the company’s stock traded hands. Analog Devices has a 52 week low of $43.91 and a 52 week high of $56.18. The stock has a 50-day moving average of $52.96 and a 200-day moving average of $51.37. The company has a market cap of $16.813 billion and a P/E ratio of 23.86.
Analog Devices (NYSE:ADI) last announced its earnings results on Tuesday, May 20th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.52 earnings per share. Analog Devices’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Analog Devices will post $2.36 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.33.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.