Vincent Roche, Chair and CEO of Analog Devices Inc. (NASDAQ:ADI), a $108 billion semiconductor company, recently executed a significant transaction involving the company's stock. On December 11, 2024, Roche sold 10,000 shares of Analog Devices at a price of $215.83 each, amounting to a total of $2.16 million. This sale was conducted under a pre-established 10b5-1 trading plan, which Roche adopted on March 1, 2024. According to InvestingPro data, ADI currently trades near its 52-week high of $244.14.
In addition to the sale, Roche also exercised options to acquire 10,000 shares at a price of $91.13 per share. Following these transactions, Roche holds 21,982.973 shares directly. Furthermore, Roche has indirect holdings in the Vincent Roche 2023 and 2024 Grantor Retained Annuity Trusts, with 34,828 and 43,515 shares respectively.
These transactions are part of Roche's ongoing management of his equity stake in Analog Devices, reflecting both his role as an executive and shareholder.
In other recent news, Analog Devices reported robust financial performance for fiscal year 2024, with revenues reaching $9.4 billion and earnings per share (EPS) of $6.38. The semiconductor company demonstrated resilience, maintaining a strong operating margin of 41% and a free cash flow margin of 33%, while returning $2.4 billion to shareholders. TD Cowen, Piper Sandler, Truist Securities, and Goldman Sachs (NYSE:GS) have all recently adjusted their stock price targets for Analog Devices. Despite cautious forward guidance, Goldman Sachs reiterated a Buy rating and increased the stock's price target to $261, indicating a potential upside of 19%. The company anticipates a gradual recovery in fiscal 2025, primarily driven by the industrial sector. Notable recent developments include the launch of Code Fusion Studio software development platform and the ADI Assure Trusted Edge Security Architecture, highlighting Analog Devices' commitment to innovation. CEO Vincent Roche expressed confidence in the company's growth trajectory and the strength of its product portfolio, focusing on digital, software, and AI capabilities.
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