Analog Devices (NASDAQ:ADI) Price Target Raised to $275.00 at Benchmark

Analog Devices (NASDAQ:ADI) had its price target increased by Benchmark from $245.00 to $275.00 in a research report sent to investors on Thursday morning,Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

Several other analysts also recently commented on ADI. 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 lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.19.

Analog Devices Trading Up 0.9 %

NASDAQ ADI opened at $243.82 on Thursday. The company has a market capitalization of $120.96 billion, a PE ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. Analog Devices has a 1-year low of $182.57 and a 1-year high of $247.10. 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 firm’s fifty day simple moving average is $215.06 and its 200-day simple moving average is $219.97.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $1.73 EPS. As a group, sell-side analysts anticipate that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of 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 is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the third quarter worth about $28,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is owned by 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.