Insider Selling: Analog Devices, Inc. (NASDAQ:ADI) SVP Sells 4,505 Shares of Stock
Analog Devices, Inc. (NASDAQ:ADI) SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $80.07, for a total transaction of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares in the company, valued at $1,083,427.17. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Analog Devices, Inc. (NASDAQ:ADI) traded up 0.98% during mid-day trading on Tuesday, reaching $79.52. 1,865,648 shares of the company traded hands. The company’s 50-day moving average is $79.71 and its 200-day moving average is $79.20. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of 30.46 and a beta of 1.30. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on ADI shares. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price objective on shares of Analog Devices in a report on Friday, March 31st. Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $93.00 price objective on shares of Analog Devices in a report on Tuesday, May 9th. Zacks Investment Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $88.86.
A number of institutional investors have recently bought and sold shares of ADI. Lazard Asset Management LLC purchased a new position in Analog Devices during the first quarter worth approximately $100,000. Jacobus Wealth Management Inc. purchased a new position in Analog Devices during the first quarter worth approximately $113,000. Heritage Trust Co purchased a new position in Analog Devices during the first quarter worth approximately $114,000. Guardian Life Insurance Co. of America raised its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.
About Analog Devices
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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