Analog Devices Sees Unusually Large Options Volume (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) was the target of unusually large options trading on Friday. Stock traders purchased 58,403 call options on the stock. This represents an increase of approximately 959% compared to the typical daily volume of 5,517 call options.

Analog Devices Stock Up 1.5%

ADI stock opened at $281.29 on Friday. The firm has a market capitalization of $137.73 billion, a PE ratio of 61.69, a P/E/G ratio of 1.54 and a beta of 1.04. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices has a twelve month low of $158.65 and a twelve month high of $283.23. The stock’s 50 day moving average is $242.41 and its 200-day moving average is $237.91.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm posted $1.67 EPS. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. Sell-side analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,250 shares of company stock valued at $6,520,371. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its holdings in shares of Analog Devices by 7.7% in the 3rd quarter. Allworth Financial LP now owns 9,668 shares of the semiconductor company’s stock worth $2,375,000 after purchasing an additional 691 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Analog Devices by 3.3% in the third quarter. Swiss Life Asset Management Ltd now owns 238,350 shares of the semiconductor company’s stock valued at $58,563,000 after acquiring an additional 7,553 shares during the period. Cambria Investment Management L.P. boosted its position in Analog Devices by 3.1% in the third quarter. Cambria Investment Management L.P. now owns 1,836 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 55 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of Analog Devices during the 3rd quarter valued at about $49,000. Finally, Keyes Stange & Wooten Wealth Management LLC boosted its holdings in shares of Analog Devices by 13.8% in the third quarter. Keyes Stange & Wooten Wealth Management LLC now owns 2,094 shares of the semiconductor company’s stock worth $514,000 after buying an additional 254 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cantor Fitzgerald lifted their target price on Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Cfra reiterated a “buy” rating and issued a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. The Goldman Sachs Group restated a “buy” rating and set a $300.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Finally, Piper Sandler set a $290.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $281.87.

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.