Analog Devices, Inc. (NASDAQ:ADI) Receives $249.33 Consensus Price Target from Analysts

Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $249.33.

A number of equities research analysts have weighed in on ADI shares. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $24,754,600 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Raymond James & Associates raised its position in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the period. Finally, Holocene Advisors LP boosted its position in Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 0.1 %

NASDAQ ADI opened at $216.31 on Friday. Analog Devices has a 1 year low of $181.80 and a 1 year high of $244.14. The stock has a market capitalization of $107.35 billion, a PE ratio of 65.75, a PEG ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The business’s 50-day moving average is $221.96 and its 200 day moving average is $225.36.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.70%. Analog Devices’s dividend payout ratio is currently 111.85%.

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.