Investors Purchase High Volume of Analog Devices Call Options (ADI)
Analog Devices, Inc. (NASDAQ:ADI) was the target of unusually large options trading on Wednesday. Investors purchased 15,326 call options on the stock. This is an increase of 804% compared to the typical daily volume of 1,696 call options.
In related news, Director Bruce R. Evans acquired 14,000 shares of the stock in a transaction dated Friday, July 7th. The shares were purchased at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now directly owns 67,540 shares in the company, valued at $5,287,031.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $77.81, for a total value of $233,430.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at $1,587,635.24. The disclosure for this sale can be found here. Insiders sold 45,686 shares of company stock worth $3,780,282 over the last three months. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ADI. BlackRock Inc. lifted its holdings in Analog Devices by 3,292.7% during the 1st quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Analog Devices by 24.3% during the 1st quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Analog Devices by 54.1% during the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after buying an additional 3,248,336 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Analog Devices by 84.6% during the 1st quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the last quarter. Finally, FMR LLC lifted its holdings in Analog Devices by 52.2% during the 1st quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock worth $635,689,000 after buying an additional 2,661,277 shares during the last quarter. 86.87% of the stock is owned by institutional investors.
Analog Devices (NASDAQ:ADI) opened at 80.44 on Friday. The stock has a 50 day moving average price of $79.63 and a 200 day moving average price of $80.15. Analog Devices has a 52-week low of $59.01 and a 52-week high of $90.49. The company has a market capitalization of $29.52 billion, a price-to-earnings ratio of 30.81 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. Analog Devices’s revenue was up 64.9% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, equities analysts expect that Analog Devices will post $4.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.24%. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
A number of research analysts have recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $110.00 price objective on shares of Analog Devices in a research report on Sunday, August 27th. Stifel Nicolaus reissued a “buy” rating and set a $97.00 target price (up previously from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Instinet downgraded Analog Devices from a “neutral” rating to a “reduce” rating and decreased their target price for the company from $82.00 to $72.00 in a research note on Friday, June 2nd. Drexel Hamilton reissued a “buy” rating and set a $105.00 target price on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $96.00 target price (up previously from $93.00) on shares of Analog Devices in a research note on Thursday, June 1st. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and an average price target of $91.85.
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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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