Analog Devices, Inc. (NASDAQ:ADI) SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,638,033.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Analog Devices, Inc. (ADI) traded up 0.98% during midday trading on Wednesday, hitting $79.98. The company had a trading volume of 1,876,781 shares. Analog Devices, Inc. has a 12 month low of $52.17 and a 12 month high of $90.49. The company has a 50-day moving average of $80.06 and a 200-day moving average of $78.13. The company has a market capitalization of $29.35 billion, a PE ratio of 30.63 and a beta of 1.27.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.18. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Friday, June 9th were given a $0.45 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.80 annualized dividend and a yield of 2.25%. Analog Devices’s payout ratio is 67.92%.
Several brokerages recently issued reports on ADI. BMO Capital Markets reissued a “buy” rating and set a $96.00 target price on shares of Analog Devices in a research note on Friday, March 31st. Credit Suisse Group began coverage on Analog Devices in a research note on Tuesday, March 14th. They set an “outperform” rating and a $100.00 target price on the stock. Raymond James Financial, Inc. began coverage on Analog Devices in a research note on Friday, June 16th. They set a “market perform” rating on the stock. Goldman Sachs Group Inc reissued a “neutral” rating and set a $90.00 target price (up previously from $87.00) on shares of Analog Devices in a research note on Thursday, June 1st. Finally, B. Riley reissued a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $88.67.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock valued at $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. BlackRock Inc. raised its position in shares of Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock valued at $1,514,372,000 after buying an additional 2,319,193 shares during the last quarter. State Street Corp raised its position in shares of Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after buying an additional 2,493,568 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock valued at $652,081,000 after buying an additional 614,150 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.
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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