Analog Devices (NASDAQ:ADI) Given New $265.00 Price Target at Oppenheimer

Analog Devices (NASDAQ:ADI) had its price target lifted by Oppenheimer from $225.00 to $265.00 in a research note released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

ADI has been the topic of a number of other reports. UBS Group decreased their target price on Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Morgan Stanley set a $214.00 target price on Analog Devices in a report on Monday, April 21st. Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price target on Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $249.95.

Analog Devices Stock Down 0.0%

Shares of ADI stock opened at $227.11 on Friday. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10. The stock has a market cap of $112.64 billion, a PE ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The business’s fifty day moving average is $196.58 and its 200-day moving average is $210.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. Equities analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares of the company’s stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,934 shares of company stock valued at $8,735,156. Insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in ADI. Activest Wealth Management increased its stake in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Orion Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $27,000. Menard Financial Group LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices in the first quarter worth about $27,000. Finally, Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.