Analog Devices, Inc. (NASDAQ:ADI) Receives $249.33 Average PT from Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $249.33.

Several research firms have recently commented on ADI. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial lowered their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 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 value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $24,754,600. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently made changes to their positions in ADI. State Street Corp boosted its holdings in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after buying an additional 135,838 shares during the period. Franklin Resources Inc. grew its position in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. FMR LLC increased its stake in shares of Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 1.9 %

Shares of ADI stock opened at $211.78 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices has a 12-month low of $181.80 and a 12-month high of $244.14. The stock has a market capitalization of $105.11 billion, a P/E ratio of 64.37, a P/E/G ratio of 2.47 and a beta of 1.05. The firm’s 50 day moving average is $220.26 and its 200 day moving average is $224.83.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the business posted $2.01 EPS. Research analysts expect that Analog Devices will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. Analog Devices’s payout ratio is currently 111.85%.

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.