Analog Devices (NASDAQ:ADI) Price Target Raised to $230.00

Analog Devices (NASDAQ:ADI) had its price objective lifted by Truist Financial from $216.00 to $230.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a hold rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Stock Performance

ADI stock opened at $212.37 on Friday. Analog Devices has a 1 year low of $182.57 and a 1 year high of $244.14. The stock has a market capitalization of $105.40 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock’s fifty day moving average is $216.48 and its two-hundred day moving average is $222.88.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insiders Place Their Bets

In other news, 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 directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

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

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.