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

Analog Devices, Inc. (NASDAQ:ADI) was the target of some unusual options trading on Friday. Stock investors acquired 58,403 call options on the company. This is an increase of 959% compared to the average daily volume of 5,517 call options.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BNP Paribas began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. BNP Paribas Exane began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Weiss Ratings upgraded Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.87.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,250 shares of company stock worth $6,520,371. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 0.3% in the third quarter. Vanguard Group Inc. now owns 50,389,306 shares of the semiconductor company’s stock valued at $12,380,652,000 after buying an additional 162,075 shares during the period. State Street Corp boosted its holdings in Analog Devices by 0.4% during the third quarter. State Street Corp now owns 23,399,046 shares of the semiconductor company’s stock worth $5,749,146,000 after purchasing an additional 81,790 shares during the last quarter. Geode Capital Management LLC grew its position in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after buying an additional 2,407,460 shares during the last quarter. Finally, Norges Bank bought a new stake in Analog Devices during the 2nd quarter worth about $1,803,377,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.4%

NASDAQ:ADI traded up $3.88 on Friday, hitting $281.14. 1,654,641 shares of the stock were exchanged, compared to its average volume of 3,827,665. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The stock has a market capitalization of $137.66 billion, a price-to-earnings ratio of 61.65, a P/E/G ratio of 1.55 and a beta of 1.04. The company’s 50-day moving average price is $241.74 and its 200 day moving average price is $237.51. Analog Devices has a 52 week low of $158.65 and a 52 week high of $283.23.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.67 EPS. On average, equities research analysts forecast that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s payout ratio is 86.84%.

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.