Analog Devices, Inc. (NASDAQ:ADI) Receives $250.20 Consensus Target Price from Analysts

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $249.95.

Several research analysts have commented on ADI shares. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Barclays reduced their target price on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock worth $8,735,156 over the last three months. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Norges Bank purchased a new stake in Analog Devices during the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices during the 4th quarter worth approximately $833,386,000. Proficio Capital Partners LLC lifted its holdings in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Analog Devices by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after buying an additional 2,407,460 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock worth $446,037,000 after buying an additional 2,203,062 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 0.0%

NASDAQ:ADI opened at $227.11 on Tuesday. The firm has a market capitalization of $112.64 billion, a price-to-earnings ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business has a fifty day moving average price of $196.58 and a 200-day moving average price of $210.41. Analog Devices has a one year low of $158.65 and a one year high of $247.10.

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

Analog Devices Increases Dividend

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

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.