Analog Devices’ (ADI) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Analog Devices (NASDAQ:ADI) in a research note released on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $250.00 price target on the semiconductor company’s stock.

ADI has been the topic of several other research reports. Truist Financial lowered shares of Analog Devices from a buy rating to a hold rating and lowered their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Barclays upped their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an equal weight rating in a report on Thursday, July 18th. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an overweight rating in a research note on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a buy rating for the company in a report on Thursday, August 22nd. Finally, Oppenheimer reiterated an outperform rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $249.80.

Analog Devices Price Performance

Analog Devices stock opened at $230.70 on Tuesday. Analog Devices has a 52 week low of $154.99 and a 52 week high of $244.14. The company’s 50 day moving average price is $222.95 and its two-hundred day moving average price is $219.29. The stock has a market cap of $114.48 billion, a P/E ratio of 53.86, a P/E/G ratio of 3.75 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period last year, the company posted $2.49 earnings per share. On average, equities analysts predict that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 over the last 90 days. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently added to or reduced their stakes in ADI. Westwood Holdings Group Inc. purchased a new stake in Analog Devices in the 4th quarter worth approximately $290,000. State of Tennessee Treasury Department boosted its holdings in Analog Devices by 16.4% in the fourth quarter. State of Tennessee Treasury Department now owns 139,077 shares of the semiconductor company’s stock valued at $27,615,000 after acquiring an additional 19,551 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Analog Devices by 7.1% in the fourth quarter. Cresset Asset Management LLC now owns 115,361 shares of the semiconductor company’s stock valued at $22,906,000 after acquiring an additional 7,637 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Analog Devices during the 4th quarter valued at $6,405,000. Finally, Caxton Associates LP bought a new position in Analog Devices in the 4th quarter worth $71,482,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.