Analog Devices, Inc. (NASDAQ:ADI) Receives $255.41 Average Target Price from Analysts

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $255.41.

A number of brokerages have recently issued reports on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley increased their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADI. Bank of Hawaii boosted its holdings in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares in the last quarter. Midwest Professional Planners LTD. boosted its holdings in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC grew its position in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC grew its position in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 54 shares during the last quarter. Finally, West Oak Capital LLC raised its stake in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.4 %

Shares of NASDAQ:ADI opened at $210.53 on Monday. Analog Devices has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market cap of $104.42 billion, a P/E ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07. The business has a fifty day moving average of $216.98 and a two-hundred day moving average of $219.72. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.88%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.