Insider Selling: Analog Devices VP Sells 50,000 Shares of Stock (ADI)
Analog Devices (NYSE:ADI) VP Robert R. Marshall sold 50,000 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $54.27, for a total value of $2,713,500.00. Following the transaction, the vice president now directly owns 12,553 shares of the company’s stock, valued at approximately $681,251. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Analog Devices (NYSE:ADI) traded down 0.20% during mid-day trading on Friday, hitting $54.29. The stock had a trading volume of 933,943 shares. Analog Devices has a one year low of $45.28 and a one year high of $56.18. The stock’s 50-day moving average is $53.99 and its 200-day moving average is $51.78. The company has a market cap of $17.055 billion and a price-to-earnings ratio of 24.09.
Analog Devices (NYSE:ADI) last posted its quarterly 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. Analysts expect that Analog Devices will post $2.36 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Analog Devices in a research note on Friday. They now have a $57.00 price target on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating and a $66.00 price target on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating and a $66.00 price target on the stock. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $57.33.
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).
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