Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $249.80

by · The Cerbat Gem

Shares of Analog Devices, Inc. (NASDAQ:ADI – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $249.80.

A number of research firms have recently weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. Morgan Stanley boosted their price target 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. Finally, Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Check Out Our Latest Report on Analog Devices

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock valued at $20,794,658 over the last three months. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. New Millennium Group LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $30,000. ORG Partners LLC boosted its stake 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 worth $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC increased its holdings 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 worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices in the 2nd quarter valued at $37,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.7 %

Shares of NASDAQ:ADI opened at $228.23 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $113.25 billion, a P/E ratio of 53.32, a P/E/G ratio of 3.75 and a beta of 1.07. Analog Devices has a 12 month low of $154.99 and a 12 month high of $244.14. The company’s 50-day moving average price is $222.83 and its two-hundred day moving average price is $218.72.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS 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 business 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 earnings per share. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 85.98%.

Analog Devices Company Profile

(Get Free Report

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.

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