Ray Stata Sells 25,000 Shares of Analog Devices Inc. (ADI) Stock
Analog Devices Inc. (NASDAQ:ADI) Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $63.20, for a total value of $1,580,000.00. Following the completion of the sale, the director now directly owns 257,631 shares of the company’s stock, valued at $16,282,279.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Ray Stata also recently made the following trade(s):
- On Monday, August 22nd, Ray Stata sold 25,000 shares of Analog Devices stock. The stock was sold at an average price of $64.02, for a total value of $1,600,500.00.
- On Friday, August 19th, Ray Stata sold 50,000 shares of Analog Devices stock. The stock was sold at an average price of $64.06, for a total value of $3,203,000.00.
Analog Devices Inc. (NASDAQ:ADI) traded up 1.54% during midday trading on Wednesday, reaching $63.30. The company’s stock had a trading volume of 2,042,296 shares. The company’s 50-day moving average is $62.94 and its 200 day moving average is $59.16. Analog Devices Inc. has a 52 week low of $47.24 and a 52 week high of $66.91. The firm has a market capitalization of $19.46 billion, a P/E ratio of 29.90 and a beta of 1.21.
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Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The business had revenue of $870 million for the quarter, compared to analyst estimates of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Analysts expect that Analog Devices Inc. will post $2.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Friday, August 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.65%. Analog Devices’s payout ratio is 79.62%.
Several equities research analysts have recently weighed in on ADI shares. Evercore ISI upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, July 27th. B. Riley reiterated a “buy” rating and issued a $73.00 price target on shares of Analog Devices in a report on Wednesday, July 27th. KeyCorp reiterated a “buy” rating on shares of Analog Devices in a report on Wednesday, July 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of Analog Devices in a report on Tuesday, June 14th. Finally, Stifel Nicolaus increased their price target on Analog Devices from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and an average target price of $70.68.
Several institutional investors have recently bought and sold shares of the stock. Evercore Wealth Management LLC raised its position in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Analog Devices during the first quarter valued at $105,000. Meeder Asset Management Inc. acquired a new position in Analog Devices during the first quarter valued at $112,000. Quadrant Capital Group LLC raised its position in Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock valued at $131,000 after buying an additional 384 shares during the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in Analog Devices during the second quarter valued at $146,000. Institutional investors and hedge funds own 85.80% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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