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

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of some unusual options trading on Monday. Stock traders bought 10,697 put options on the company. This represents an increase of 92% compared to the typical daily volume of 5,563 put options.

Wall Street Analyst Weigh In

A number of research firms have commented on ADI. Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. KeyCorp increased their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Evercore ISI began coverage on Analog Devices in a research note on Tuesday. They issued an “outperform” rating and a $254.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the company’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 value of $687,311.24. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently made changes to their positions in ADI. Markel Corp boosted its stake in shares of Analog Devices by 1.4% during the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after buying an additional 15,150 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Analog Devices during the first quarter worth about $82,000. United Bank boosted its stake in shares of Analog Devices by 24.7% during the first quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 1,315 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Analog Devices by 34.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock worth $264,000 after buying an additional 412 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Analog Devices by 14.5% during the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after buying an additional 14,718 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $191.23 on Wednesday. The stock’s 50-day moving average is $193.23 and its two-hundred day moving average is $186.44. The firm has a market cap of $94.83 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 4.82 and a beta of 1.17. Analog Devices has a 1 year low of $154.99 and a 1 year high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.75 earnings per share. Analysts predict that Analog Devices will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. Analog Devices’s dividend payout ratio (DPR) is presently 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.