Analysts Set Analog Devices, Inc. (NASDAQ:ADI) PT at $249.80

Analog Devices, Inc. (NASDAQ:ADI) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $249.80.

Several brokerages recently weighed in on ADI. Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Analog Devices Trading Up 2.2 %

NASDAQ ADI opened at $235.23 on Friday. The stock has a market capitalization of $116.73 billion, a price-to-earnings ratio of 54.96, a PEG ratio of 3.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices has a 52 week low of $154.99 and a 52 week high of $244.14. The stock’s 50 day moving average price is $227.17 and its two-hundred day moving average price is $222.82.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the firm earned $2.49 EPS. The business’s revenue was down 24.8% on a year-over-year basis. As a group, analysts anticipate that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.56%. Analog Devices’s payout ratio is 85.98%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock worth $20,794,658 over the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC lifted its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Analog Devices in the 2nd quarter worth $37,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Analog Devices in the 1st quarter worth $40,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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.