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Johnson Mercedes, a director at Analog Devices Inc. (NASDAQ:ADI), a prominent semiconductor company with a market capitalization of $110.4 billion, recently sold 6,000 shares of the company’s stock, according to a recent SEC filing. According to InvestingPro data, the stock is currently trading at a high P/E multiple of 70.8x. The shares were sold at a price of $227.12 each, totaling approximately $1.36 million. This transaction was conducted under a 10b5-1 plan that Mercedes adopted on December 3, 2024. Following this sale, Mercedes retains ownership of 1,836 shares of Analog Devices. The company maintains strong fundamentals, with InvestingPro analysis showing 13+ additional insights, including a 22-year track record of consecutive dividend increases and positive analyst revisions for upcoming earnings.
In other recent news, Analog Devices reported earnings per share (EPS) of $1.63 for the January quarter, surpassing the consensus estimate of $1.54, despite a 4% decline in sales. The company’s performance was bolstered by a 19% increase in the consumer segment, which offset declines in industrial, automotive, and communications sectors. UBS analysts raised their price target for Analog Devices to $300, maintaining a Buy rating, citing improved industrial sector indicators and robust order strength. CFRA also increased its price target to $265, with a Buy rating, highlighting positive trends in bookings across industrial and automotive markets. Benchmark followed suit, lifting its target to $275 and emphasizing the company’s enduring demand improvements and potential upside in financial leverage. Truist Securities adjusted its target to $248, maintaining a Hold rating, while expressing concerns over the company’s valuation relative to its historical metrics. Morgan Stanley (NYSE:MS) raised its price target to $250, keeping an Overweight rating, reflecting confidence in Analog Devices’ market position amid macroeconomic uncertainties. These developments indicate a broad consensus among analysts regarding the company’s strong financial health and growth potential.
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