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

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $249.80.

A number of brokerages have issued reports on ADI. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd.

Analog Devices Trading Down 3.0 %

ADI opened at $223.11 on Friday. The business has a 50 day moving average of $227.24 and a 200-day moving average of $222.87. The stock has a market cap of $110.77 billion, a PE ratio of 67.00, a PEG ratio of 3.87 and a beta of 1.07. Analog Devices has a 52 week low of $155.16 and a 52 week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.49 earnings per share. Equities research analysts predict that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the business’s 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 transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,495 shares of company stock valued at $18,513,858. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after buying an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. Capital International Investors lifted its position in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after buying an additional 644,945 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after buying an additional 700,862 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.