Barclays Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective trimmed by Barclays from $250.00 to $210.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on ADI. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Stock Up 1.9 %

ADI stock opened at $219.16 on Friday. The firm’s fifty day simple moving average is $215.64 and its 200-day simple moving average is $222.52. The company has a market capitalization of $108.77 billion, a P/E ratio of 66.61, a price-to-earnings-growth ratio of 2.43 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. Analog Devices has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm earned $2.01 EPS. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ADI. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Analog Devices by 3.3% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 5,830 shares of the semiconductor company’s stock worth $1,342,000 after purchasing an additional 188 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Analog Devices by 8.6% during the fourth quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company’s stock worth $443,000 after purchasing an additional 164 shares in the last quarter. True North Advisors LLC lifted its position in shares of Analog Devices by 143.1% during the fourth quarter. True North Advisors LLC now owns 2,173 shares of the semiconductor company’s stock worth $462,000 after purchasing an additional 1,279 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Analog Devices by 2.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 105,784 shares of the semiconductor company’s stock worth $22,475,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Paradiem LLC lifted its position in shares of Analog Devices by 7.7% during the fourth quarter. Paradiem LLC now owns 56,113 shares of the semiconductor company’s stock worth $11,922,000 after purchasing an additional 4,034 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.