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

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) was the recipient of some unusual options trading activity on Monday. Traders purchased 10,697 put options on the company. This represents an increase of 92% compared to the average daily volume of 5,563 put options.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the business's stock in a transaction 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 in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Analog Devices

A number of large investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. increased its stake in Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas increased its stake in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 65 shares during the period. Cetera Trust Company N.A bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $29,000. Finally, Riverview Trust Co bought a new stake in shares of Analog Devices in the 1st quarter worth approximately $30,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. KeyCorp boosted their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Finally, Edward Jones raised shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $206.26.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $1.98 on Monday, hitting $190.29. The company's stock had a trading volume of 2,559,740 shares, compared to its average volume of 3,366,080. The company has a 50-day simple moving average of $193.20 and a 200 day simple moving average of $186.33. Analog Devices has a 1 year low of $154.99 and a 1 year high of $204.20. The company has a market capitalization of $94.37 billion, a PE ratio of 34.04, a PEG ratio of 4.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Analog Devices's previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 65.83%.

About Analog Devices

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.