Analog Devices (NASDAQ:ADI) Now Covered by Evercore ISI

Evercore ISI began coverage on shares of Analog Devices (NASDAQ:ADI) in a report issued on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $254.00 price target on the semiconductor company’s stock.

ADI has been the subject of several other research reports. The Goldman Sachs Group lifted their price target on Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a report on Thursday, February 22nd. KeyCorp lifted their price objective on Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Oppenheimer reaffirmed an outperform rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Morgan Stanley reaffirmed an overweight rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Edward Jones raised Analog Devices from a hold rating to a buy rating in a research note on Friday, December 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $208.17.

Analog Devices Stock Down 1.0 %

ADI opened at $187.58 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The stock has a market capitalization of $93.02 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 4.80 and a beta of 1.17. The business has a 50-day moving average of $193.05 and a two-hundred day moving average of $186.47. Analog Devices has a 12 month low of $154.99 and a 12 month high of $204.20.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 EPS. On average, research analysts expect that Analog Devices will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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 that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,825,113 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. grew its stake in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. USA Financial Formulas grew its stake in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices during the 3rd quarter worth $29,000. Cetera Trust Company N.A bought a new position in Analog Devices during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Analog Devices during the 4th quarter worth $29,000. 86.81% of the stock is currently owned by 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.