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

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $248.70.

A number of research firms recently weighed in on ADI. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Morgan Stanley cut their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, TD Cowen dropped 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.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter worth about $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices during the fourth quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in Analog Devices in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $211.89 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The business has a 50 day simple moving average of $216.43 and a two-hundred day simple moving average of $221.43. The stock has a market capitalization of $105.12 billion, a P/E ratio of 64.40, a PEG ratio of 2.41 and a beta of 1.05. Analog Devices has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company earned $2.01 EPS. The firm’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts predict that Analog Devices will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

About Analog Devices

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.