Analog Devices Target of Unusually Large Options Trading (ADI)
Analog Devices, Inc. (NASDAQ:ADI) was the target of unusually large options trading activity on Wednesday. Traders purchased 15,326 call options on the stock. This is an increase of 804% compared to the average daily volume of 1,696 call options.
Shares of Analog Devices (NASDAQ:ADI) opened at 80.44 on Monday. The stock has a 50 day moving average of $79.63 and a 200-day moving average of $80.15. The firm has a market capitalization of $29.52 billion, a P/E ratio of 30.81 and a beta of 1.29. Analog Devices has a 12-month low of $59.01 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $0.82 EPS. Analog Devices’s quarterly revenue was up 64.9% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices will post $4.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 7th. Analog Devices’s dividend payout ratio is currently 86.12%.
A number of equities analysts have recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a report on Tuesday, May 30th. UBS AG reaffirmed a “neutral” rating and set a $94.00 price objective (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Monday, May 22nd. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Royal Bank Of Canada raised their price objective on shares of Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $91.85.
In other Analog Devices news, SVP Gregory N. Henderson sold 6,396 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.34, for a total value of $539,438.64. Following the completion of the sale, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Evans purchased 14,000 shares of Analog Devices stock in a transaction on Friday, July 7th. The stock was bought at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the completion of the acquisition, the director now owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 45,686 shares of company stock valued at $3,780,282. 1.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC lifted its holdings in shares of Analog Devices by 75.0% in the 2nd quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after purchasing an additional 15 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Analog Devices in the 1st quarter worth $100,000. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the 1st quarter valued at $113,000. Heritage Trust Co bought a new position in Analog Devices during the 1st quarter valued at $114,000. Finally, Guardian Life Insurance Co. of America lifted its stake 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 valued at $115,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.
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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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