Analog Devices, Inc. (NASDAQ:ADI) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 6,160 put options on the company. This is an increase of 809% compared to the typical daily volume of 678 put options.
In other Analog Devices news, SVP Gregory N. Henderson sold 14,557 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $154.60, for a total value of $2,250,512.20. Following the transaction, the senior vice president now directly owns 8,910 shares of the company’s stock, valued at approximately $1,377,486. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Sondel sold 2,210 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $163.79, for a total transaction of $361,975.90. Insiders sold a total of 53,396 shares of company stock worth $8,385,638 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ADI. Sowell Financial Services LLC boosted its position in Analog Devices by 22.0% in the 4th quarter. Sowell Financial Services LLC now owns 371 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 67 shares during the period. DNB Asset Management AS lifted its position in shares of Analog Devices by 3.3% during the 4th quarter. DNB Asset Management AS now owns 44,859 shares of the semiconductor company’s stock worth $6,627,000 after purchasing an additional 1,428 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of Analog Devices by 6.7% during the 4th quarter. Mission Wealth Management LP now owns 1,965 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 124 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of Analog Devices by 26.9% during the 4th quarter. SevenBridge Financial Group LLC now owns 6,131 shares of the semiconductor company’s stock worth $906,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc lifted its position in shares of Analog Devices by 2.6% during the 4th quarter. Nachman Norwood & Parrott Inc now owns 4,546 shares of the semiconductor company’s stock worth $672,000 after purchasing an additional 116 shares during the last quarter. 91.90% of the stock is owned by institutional investors.
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A number of research firms have weighed in on ADI. Raymond James raised their target price on shares of Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Barclays raised their target price on shares of Analog Devices from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Piper Sandler raised their target price on shares of Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. BMO Capital Markets raised their price target on shares of Analog Devices from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. Finally, Argus raised their price target on shares of Analog Devices from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 19th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $157.92.
Analog Devices stock opened at $145.89 on Wednesday. Analog Devices has a fifty-two week low of $106.11 and a fifty-two week high of $164.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.84. The firm has a 50 day moving average price of $156.43 and a 200 day moving average price of $149.71. The company has a market capitalization of $53.82 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 2.26 and a beta of 1.31.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company posted $1.03 EPS. As a group, equities research analysts forecast that Analog Devices will post 5.69 earnings per share for the current year.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company 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 and microwave ICs to support cellular infrastructure.
Further Reading: P/E Growth (PEG)
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