Insider Selling: Analog Devices, Inc. (ADI) CEO Sells 100,000 Shares of Stock
Analog Devices, Inc. (NASDAQ:ADI) CEO Vincent Roche sold 100,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.17, for a total value of $8,517,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Analog Devices, Inc. (ADI) traded up $0.04 during trading on Tuesday, hitting $84.83. The stock had a trading volume of 2,340,774 shares, compared to its average volume of 2,979,506. Analog Devices, Inc. has a 52-week low of $70.26 and a 52-week high of $93.99. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $31,481.50, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.58 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. research analysts forecast that Analog Devices, Inc. will post 5.2 earnings per share for the current year.
Several equities analysts have weighed in on the company. Drexel Hamilton reissued a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Tuesday, November 21st. Oppenheimer reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Friday, November 17th. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective (up from $98.00) on shares of Analog Devices in a report on Wednesday, November 22nd. B. Riley increased their price objective on Analog Devices from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Finally, Jefferies Group increased their price objective on Analog Devices to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and a consensus target price of $96.04.
Several institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. bought a new stake in Analog Devices during the second quarter valued at $119,000. WFG Advisors LP boosted its stake in Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 330 shares during the period. Fieldpoint Private Securities LLC boosted its stake in Analog Devices by 91.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 705 shares during the period. Clear Perspective Advisors LLC boosted its stake in Analog Devices by 3,884.2% during the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 1,476 shares during the period. Finally, NEXT Financial Group Inc boosted its stake in Analog Devices by 64.4% during the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 600 shares during the period. 87.08% of the stock is owned by hedge funds and other institutional investors.
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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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