Analog Devices, Inc. (NASDAQ:ADI) Director Bruce R. Evans Purchases 14,000 Shares
Analog Devices, Inc. (NASDAQ:ADI) Director Bruce R. Evans purchased 14,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the purchase, the director now directly owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Analog Devices, Inc. (NASDAQ ADI) traded up 0.33% on Monday, reaching $78.73. 2,167,822 shares of the company traded hands. The firm has a market cap of $28.89 billion, a P/E ratio of 30.15 and a beta of 1.30. Analog Devices, Inc. has a 52-week low of $56.43 and a 52-week high of $90.49. The stock has a 50-day moving average price of $80.68 and a 200-day moving average price of $78.42.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 8.15% and a return on equity of 4.91%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 41.2% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 9th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, June 7th. Analog Devices’s dividend payout ratio is currently 67.92%.
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ADI has been the topic of a number of research reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 price target (up from $85.00) on shares of Analog Devices in a research note on Monday, March 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective on shares of Analog Devices in a report on Monday, March 13th. Credit Suisse Group began coverage on shares of Analog Devices in a report on Tuesday, March 14th. They issued an “outperform” rating and a $100.00 price objective for the company. B. Riley reiterated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a report on Thursday, March 16th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 price objective on shares of Analog Devices in a report on Friday, March 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has a consensus rating of “Buy” and an average target price of $88.67.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after buying an additional 22,366,040 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock valued at $2,311,428,000 after buying an additional 5,506,925 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock valued at $534,368,000 after buying an additional 2,987,637 shares in the last quarter. FMR LLC raised its position in shares of Analog Devices by 52.2% in the first quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock valued at $635,689,000 after buying an additional 2,661,277 shares in the last quarter. Finally, State Street Corp raised its position in shares of Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after buying an additional 2,493,568 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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