EU and US could reach trade deal this weekend - Reuters
Vivek Jain, Executive Vice President of Global Operations at Analog Devices Inc. (NASDAQ:ADI), a prominent player in the Semiconductors industry with a market capitalization of $104.4 billion, recently sold 12,684 shares of the company’s common stock. The shares were sold at a price of $210 each, totaling approximately $2.66 million. Following this transaction, Jain holds 43,174.579 shares directly. This sale was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, ADI maintains strong financial health with a current ratio of 1.93 and has raised its dividend for 22 consecutive years. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value. Investors can access 13 additional ProTips and a comprehensive Pro Research Report covering ADI’s financial health, valuation metrics, and growth prospects through an InvestingPro subscription.
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 saw a significant 19% increase in its consumer segment, which helped offset declines in its industrial, automotive, and communications sectors. UBS has raised its price target for Analog Devices to $300, citing improved order strength and strategic wins in areas like aerospace and electric vehicles. Similarly, CFRA and Benchmark have increased their price targets to $265 and $275, respectively, maintaining a Buy rating. However, Truist Securities raised its target to $248 while maintaining a Hold rating, expressing concerns over the company’s valuation and fundamentals. Shareholders recently approved several key proposals, including re-electing all board nominees and ratifying Ernst & Young LLP as the independent accounting firm. They also voted to lower the voting requirement for certain decisions from a supermajority to a simple majority. These developments indicate strong shareholder alignment and confidence in the company’s governance and financial strategies.
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