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 stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the transaction, the director now directly owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Analog Devices, Inc. (ADI) traded up 1.82% on Friday, reaching $83.84. The company’s stock had a trading volume of 2,900,467 shares. The stock has a market capitalization of $30.83 billion, a P/E ratio of 41.73 and a beta of 1.29. Analog Devices, Inc. has a 1-year low of $59.54 and a 1-year high of $90.49. The company has a 50 day moving average of $79.94 and a 200 day moving average of $80.16.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Analog Devices’s quarterly revenue was up 64.9% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post $4.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, September 7th. Analog Devices’s dividend payout ratio is presently 86.12%.
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Several equities analysts recently weighed in on ADI shares. Royal Bank Of Canada increased their price target on shares of Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price target on shares of Analog Devices in a report on Wednesday, August 30th. Credit Suisse Group reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a report on Friday, May 26th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $90.00 price target (up previously from $87.00) on shares of Analog Devices in a report on Thursday, June 1st. Twelve investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.85.
Institutional investors have recently bought and sold shares of the business. Pathstone Family Office LLC grew its holdings in Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after purchasing an additional 15 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Analog Devices in the first quarter valued at $100,000. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices in the first quarter valued at $113,000. Heritage Trust Co acquired a new stake in Analog Devices in the first quarter valued at $114,000. Finally, Guardian Life Insurance Co. of America grew its holdings 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 valued at $115,000 after purchasing an additional 223 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors.
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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