Traders Buy High Volume of Call Options on Analog Devices (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of unusually large options trading on Monday. Investors purchased 16,879 call options on the company. This is an increase of approximately 320% compared to the typical volume of 4,018 call options.

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $148.34, for a total value of $1,483,400.00. Following the completion of the transaction, the chief executive officer now directly owns 16,957 shares in the company, valued at $2,515,401.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory N. Henderson sold 6,058 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $162.16, for a total value of $982,365.28. Following the completion of the transaction, the senior vice president now owns 11,884 shares of the company’s stock, valued at $1,927,109.44. The disclosure for this sale can be found here. Insiders have sold 63,396 shares of company stock valued at $9,869,038 in the last ninety days. Company insiders own 0.42% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. raised its position in Analog Devices by 2.2% in the 4th quarter. Coastal Investment Advisors Inc. now owns 2,958 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 64 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in shares of Analog Devices by 0.9% during the 4th quarter. BKD Wealth Advisors LLC now owns 7,137 shares of the semiconductor company’s stock worth $1,054,000 after acquiring an additional 65 shares during the period. CX Institutional boosted its stake in Analog Devices by 3.2% in the 1st quarter. CX Institutional now owns 2,132 shares of the semiconductor company’s stock valued at $331,000 after purchasing an additional 66 shares during the period. Sowell Financial Services LLC raised its holdings 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 acquiring an additional 67 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Analog Devices by 19.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 408 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 67 shares in the last quarter. 91.90% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a report on Monday, February 22nd. Oppenheimer restated a “buy” rating and set a $175.00 target price on shares of Analog Devices in a report on Thursday, February 11th. Royal Bank of Canada increased their target price on Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. Piper Sandler increased their target price on Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Finally, KeyCorp increased their target price on Analog Devices from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, January 6th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $157.92.

NASDAQ ADI opened at $154.47 on Wednesday. The firm has a market cap of $56.98 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40. The stock’s 50-day moving average is $154.83 and its 200-day moving average is $145.14. Analog Devices has a one year low of $96.05 and a one year high of $164.40.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.12. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. During the same quarter last year, the firm posted $1.03 earnings per share. Equities analysts anticipate that Analog Devices will post 5.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 9th. Stockholders of record on Friday, February 26th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.62. Analog Devices’s dividend payout ratio (DPR) is currently 56.21%.

Analog Devices Company Profile

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.

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