Analog Devices, Inc. (NASDAQ:ADI) SVP Joseph Hassett sold 12,000 shares of Analog Devices stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.40, for a total transaction of $1,204,800.00. Following the completion of the transaction, the senior vice president now directly owns 26,711 shares in the company, valued at approximately $2,681,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Joseph Hassett also recently made the following trade(s):
- On Friday, June 1st, Joseph Hassett sold 17,150 shares of Analog Devices stock. The shares were sold at an average price of $97.95, for a total transaction of $1,679,842.50.
Shares of Analog Devices stock opened at $98.57 on Friday. The firm has a market capitalization of $37.32 billion, a PE ratio of 17.17, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58. Analog Devices, Inc. has a 1 year low of $78.54 and a 1 year high of $103.59.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts anticipate that Analog Devices, Inc. will post 5.89 earnings per share for the current year.
Analog Devices announced that its board has authorized a share buyback program on Tuesday, August 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.95%. Analog Devices’s dividend payout ratio is currently 40.68%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Home Federal Bank of Tennessee acquired a new stake in Analog Devices during the second quarter worth $2,067,000. Jones Financial Companies Lllp boosted its stake in Analog Devices by 101.0% during the first quarter. Jones Financial Companies Lllp now owns 35,053 shares of the semiconductor company’s stock worth $3,194,000 after buying an additional 17,614 shares in the last quarter. Tdam USA Inc. boosted its stake in Analog Devices by 8.0% during the second quarter. Tdam USA Inc. now owns 15,109 shares of the semiconductor company’s stock worth $1,449,000 after buying an additional 1,125 shares in the last quarter. Boston Partners boosted its stake in Analog Devices by 2.5% during the second quarter. Boston Partners now owns 782,868 shares of the semiconductor company’s stock worth $75,092,000 after buying an additional 18,941 shares in the last quarter. Finally, Norinchukin Bank The boosted its stake in Analog Devices by 16.7% during the first quarter. Norinchukin Bank The now owns 35,014 shares of the semiconductor company’s stock worth $3,191,000 after buying an additional 5,010 shares in the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.
A number of equities analysts have recently commented on ADI shares. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Morgan Stanley lifted their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 31st. B. Riley dropped their price target on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 31st. Stifel Nicolaus lifted their price target on shares of Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Finally, Credit Suisse Group raised their price objective on shares of Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, May 31st. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $104.79.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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