Insider Selling: Analog Devices CEO Sells 8,000 Shares of Stock (ADI)
Analog Devices (NYSE:ADI) CEO Vincent Roche sold 8,000 shares of Analog Devices stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $51.10, for a total transaction of $408,800.00. Following the completion of the sale, the chief executive officer now directly owns 16,723 shares in the company, valued at approximately $854,545. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Analog Devices (NYSE:ADI) traded down 0.73% during mid-day trading on Wednesday, hitting $50.25. The stock had a trading volume of 1,931,028 shares. Analog Devices has a 1-year low of $45.28 and a 1-year high of $56.18. The stock has a 50-day moving average of $51.26 and a 200-day moving average of $52.32. The company has a market cap of $15.789 billion and a price-to-earnings ratio of 22.31.
Analog Devices (NYSE:ADI) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.63. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter last year, the company posted $0.57 earnings per share. Analog Devices’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Analog Devices will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Analog Devices from $54.00 to $55.00 in a research note on Wednesday, August 27th. Separately, analysts at Pacific Crest raised their price target on shares of Analog Devices from $62.00 to $63.00 in a research note on Wednesday, August 27th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $55.00 to $60.00 in a research note on Wednesday, August 27th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.24.
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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