Analog Devices Target of Unusually High Options Trading (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) saw some unusual options trading on Monday. Investors acquired 10,697 put options on the stock. This represents an increase of 92% compared to the average volume of 5,563 put options.

Analyst Ratings Changes

Several analysts have weighed in on ADI shares. The Goldman Sachs Group upped their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a research report on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.26.

Analog Devices Trading Down 1.0 %

ADI opened at $190.29 on Tuesday. The firm has a market capitalization of $94.37 billion, a P/E ratio of 34.04, a P/E/G ratio of 4.82 and a beta of 1.17. The firm’s 50 day moving average is $193.20 and its 200-day moving average is $186.33. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices has a 52-week low of $154.99 and a 52-week high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. Analysts expect that Analog Devices will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.93%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its position in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas boosted its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the period. Cetera Trust Company N.A acquired a new stake in Analog Devices in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in Analog Devices during the 4th quarter worth $29,000. Finally, Riverview Trust Co acquired a new position in shares of Analog Devices during the first quarter valued at $30,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.