Analog Devices (NASDAQ:ADI) Price Target Lowered to $248.00 at Morgan Stanley

Analog Devices (NASDAQ:ADI) had its target price cut by Morgan Stanley from $252.00 to $248.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on the company. TD Cowen lowered their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Trading Up 0.4 %

Analog Devices stock opened at $218.05 on Wednesday. Analog Devices has a 12 month low of $179.63 and a 12 month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $224.14 and its two-hundred day simple moving average is $225.86. The company has a market capitalization of $108.22 billion, a price-to-earnings ratio of 66.28, a price-to-earnings-growth ratio of 3.35 and a beta of 1.08.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is 111.85%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $24,883,200 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Analog Devices by 19.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock valued at $2,298,000 after acquiring an additional 1,893 shares during the period. Hancock Whitney Corp increased its stake in Analog Devices by 7.8% in the 1st quarter. Hancock Whitney Corp now owns 1,257 shares of the semiconductor company’s stock worth $249,000 after buying an additional 91 shares during the period. New Covenant Trust Company N.A. bought a new stake in Analog Devices during the 1st quarter valued at about $40,000. Atria Investments Inc boosted its position in Analog Devices by 0.4% in the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock valued at $7,149,000 after buying an additional 149 shares during the period. Finally, PGGM Investments bought a new position in Analog Devices in the 1st quarter worth about $166,000. Institutional investors own 86.81% of the company’s stock.

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.