Analog Devices (NASDAQ:ADI) Given New $210.00 Price Target at Barclays

Analog Devices (NASDAQ:ADI) had its price target reduced by Barclays from $250.00 to $210.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

ADI has been the subject of a number of other reports. TD Cowen lowered 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. Truist Financial upped their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $247.57.

Analog Devices Stock Performance

Analog Devices stock opened at $219.16 on Friday. 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 firm has a market capitalization of $108.74 billion, a P/E ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. Analog Devices has a 1-year low of $182.57 and a 1-year high of $244.14. The company’s 50-day moving average is $215.78 and its 200 day moving average is $222.60.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm 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 business posted $2.01 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts forecast that Analog Devices will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

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

Insiders Place Their Bets

In other Analog Devices news, 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 value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % 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 Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter valued at approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices in the 3rd quarter valued at $43,000. Reston Wealth Management LLC purchased a new position in Analog Devices in the 3rd quarter worth $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Analog Devices during the 3rd quarter worth about $80,000. 86.81% of the stock is 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.