Analog Devices, Inc. (NASDAQ:ADI) Director Neil S. Novich sold 9,303 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $84.46, for a total value of $785,731.38. Following the transaction, the director now directly owns 29,588 shares in the company, valued at approximately $2,499,002.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Analog Devices, Inc. (ADI) traded up 0.66% on Thursday, hitting $84.24. The company had a trading volume of 2,885,267 shares. Analog Devices, Inc. has a one year low of $59.54 and a one year high of $90.49. The company has a market capitalization of $30.97 billion, a P/E ratio of 41.93 and a beta of 1.29. The stock’s 50-day moving average price is $80.41 and its 200 day moving average price is $80.16.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 64.9% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post $4.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Friday, September 8th were paid 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 of this dividend was Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is currently 86.12%.
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Several brokerages have recently issued reports on ADI. UBS AG reaffirmed a “neutral” rating and set a $94.00 price target (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. B. Riley reissued a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 target price on shares of Analog Devices in a research note on Friday, August 4th. ValuEngine lowered Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.92.
Hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in Analog Devices during the 1st quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. bought a new stake in Analog Devices during the 1st quarter worth approximately $113,000. Heritage Trust Co bought a new stake in Analog Devices during the 1st quarter worth approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its holdings in Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 223 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.
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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