Analog Devices (ADI) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Analog Devices (NASDAQ:ADI) from a sell rating to a hold rating in a report published on Saturday.

Other research analysts have also issued research reports about the company. B. Riley lowered their price target on Analog Devices from $122.00 to $120.00 and set a buy rating for the company in a research report on Thursday, May 31st. Stifel Nicolaus upped their price target on Analog Devices from $105.00 to $108.00 and gave the company a buy rating in a research report on Thursday, May 31st. Zacks Investment Research raised Analog Devices from a hold rating to a buy rating and set a $107.00 target price for the company in a research report on Tuesday, May 22nd. Loop Capital started coverage on Analog Devices in a research report on Thursday, June 21st. They issued a buy rating and a $117.00 target price for the company. Finally, BMO Capital Markets reissued a buy rating and issued a $107.00 target price on shares of Analog Devices in a research report on Monday, August 20th. Nine investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $104.71.

ADI opened at $100.07 on Friday. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16. Analog Devices has a one year low of $78.54 and a one year high of $103.59.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. Analog Devices’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 EPS. equities research analysts forecast that Analog Devices will post 5.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Friday, August 31st will be paid a $0.48 dividend. The ex-dividend date is Thursday, August 30th. This represents a $1.92 annualized dividend and a dividend yield of 1.92%. Analog Devices’s payout ratio is currently 40.68%.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $96.89, for a total value of $968,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $96.72, for a total value of $386,880.00. Following the completion of the sale, the senior vice president now owns 4,173 shares in the company, valued at approximately $403,612.56. The disclosure for this sale can be found here. Insiders sold a total of 80,050 shares of company stock worth $7,712,311 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of ADI. Global X Management Co. LLC boosted its stake in Analog Devices by 16.6% during the 1st quarter. Global X Management Co. LLC now owns 33,478 shares of the semiconductor company’s stock valued at $3,051,000 after purchasing an additional 4,755 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Analog Devices by 6.6% during the 1st quarter. Wells Fargo & Company MN now owns 8,608,728 shares of the semiconductor company’s stock valued at $784,513,000 after purchasing an additional 532,620 shares during the last quarter. FTB Advisors Inc. boosted its stake in Analog Devices by 9.9% during the 1st quarter. FTB Advisors Inc. now owns 34,927 shares of the semiconductor company’s stock valued at $3,215,000 after purchasing an additional 3,140 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Analog Devices during the 1st quarter valued at $301,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Analog Devices during the 1st quarter valued at $48,180,000. Institutional investors own 88.26% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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