Analog Devices, Inc. (NASDAQ:ADI) Given Average Rating of “Moderate Buy” by Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $249.33.

A number of brokerages recently weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. 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 report on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company.

Analog Devices Stock Down 1.0 %

Shares of NASDAQ:ADI opened at $215.87 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $216.99 and a two-hundred day simple moving average of $223.12. Analog Devices has a 12-month low of $182.57 and a 12-month high of $244.14. The stock has a market capitalization of $107.14 billion, a price-to-earnings ratio of 65.61, a PEG ratio of 2.47 and a beta of 1.05.

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

Analog Devices Dividend Announcement

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 $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 1.70%. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently made changes to their positions in ADI. Charles Schwab Investment Management Inc. increased its holdings in shares of Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank raised its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares during the period. Summit Global Investments acquired a new stake in shares of Analog Devices in the third quarter worth $867,000. Finally, Versor Investments LP purchased a new stake in shares of Analog Devices in the third quarter worth about $952,000. 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.