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Ray Stata, a director at Analog Devices Inc. (NASDAQ:ADI), a prominent semiconductor company with a market capitalization of $110.4 billion, recently reported a sale of company stock valued at approximately $469,920. The transaction, which occurred on March 5, involved the sale of 2,093 shares at a price of $224.52 per share. Following this sale, Stata retains direct ownership of 187,081 shares. According to InvestingPro analysis, ADI is currently trading near its 52-week high of $247.10.
In addition to the sale, Stata also exercised stock options to acquire 8,460 shares at a price of $57.29 per share. This transaction was valued at $484,673. After these transactions, Stata continues to hold a significant number of shares both directly and indirectly. Notably, analysts maintain a bullish outlook on ADI, with 19 analysts recently revising their earnings estimates upward.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, underscoring the ongoing financial activities of executives within the semiconductor company. InvestingPro subscribers can access 13 additional key insights about ADI, including detailed analysis of the company’s financial health, valuation metrics, and growth prospects through comprehensive Pro Research Reports.
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% dip in sales, the company’s performance was better than expected, with a notable 19% increase in the consumer segment. UBS analysts have raised the price target for Analog Devices to $300, maintaining a Buy rating, based on improved industrial sector indicators and robust order strength. CFRA analyst Angelo Zino also increased the price target to $265 while maintaining a Buy rating, citing positive trends in bookings across industrial and automotive markets. Benchmark analysts lifted the price target to $275, emphasizing the company’s enduring demand improvements and positive outlook. Truist Securities adjusted its price target to $248, maintaining a Hold rating, and expressed cautious optimism about the company’s future performance. Meanwhile, Morgan Stanley (NYSE:MS) increased its price target to $250, maintaining an Overweight rating, highlighting Analog Devices as a stable investment amid macroeconomic uncertainties. These developments reflect growing confidence among analysts in Analog Devices’ ability to navigate current market conditions and deliver strong financial results.
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