Investors Buy Large Volume of Call Options on Analog Devices (NASDAQ:ADI)

by · The Cerbat Gem

Analog Devices, Inc. (NASDAQ:ADI – Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders acquired 58,403 call options on the stock. This is an increase of 959% compared to the typical volume of 5,517 call options.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the sale, the chief executive officer owned 163,640 shares in the company, valued at $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,250 shares of company stock valued at $6,520,371. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Howard Hughes Medical Institute acquired a new position in shares of Analog Devices during the 2nd quarter worth $25,000. Activest Wealth Management raised its stake in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. RMG Wealth Management LLC bought a new position in shares of Analog Devices in the second quarter worth about $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices in the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $32,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

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

Analog Devices (NASDAQ:ADI – Get Free Report) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. Research analysts forecast that Analog Devices will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Cfra reissued a “buy” rating and issued a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Evercore ISI cut their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Stifel Nicolaus set a $280.00 target price on Analog Devices in a research report on Friday, November 21st. Finally, BNP Paribas Exane assumed coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $281.87.

View Our Latest Analysis on Analog Devices

Analog Devices Company Profile

(Get Free Report)

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.

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