Stock Traders Purchase Large Volume of Analog Devices Put Options (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of unusually large options trading activity on Monday. Investors bought 10,697 put options on the stock. This represents an increase of 92% compared to the typical daily volume of 5,563 put options.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADI. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Thursday, January 18th. Morgan Stanley reissued an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Evercore ISI began coverage on shares of Analog Devices in a research note on Tuesday. They issued an “outperform” rating and a $254.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, KeyCorp lifted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Independence Bank of Kentucky grew its holdings in shares of Analog Devices by 92.6% during the first quarter. Independence Bank of Kentucky now owns 624 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 300 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Analog Devices by 351.1% during the first quarter. Financial Management Professionals Inc. now owns 1,254 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 976 shares during the last quarter. Norway Savings Bank grew its holdings in shares of Analog Devices by 4.3% during the first quarter. Norway Savings Bank now owns 12,862 shares of the semiconductor company’s stock worth $2,544,000 after purchasing an additional 535 shares during the last quarter. Brookmont Capital Management grew its holdings in shares of Analog Devices by 1.5% during the first quarter. Brookmont Capital Management now owns 15,547 shares of the semiconductor company’s stock worth $3,075,000 after purchasing an additional 234 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its holdings in Analog Devices by 11.8% in the first quarter. Indiana Trust & Investment Management CO now owns 1,687 shares of the semiconductor company’s stock valued at $334,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.5 %

ADI stock opened at $191.23 on Wednesday. The company has a market cap of $94.83 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 4.82 and a beta of 1.17. The business has a 50-day simple moving average of $193.23 and a 200 day simple moving average of $186.44. Analog Devices has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $2.75 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is currently 65.83%.

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.