Analog Devices PT Raised to $61.00 at Pacific Crest (ADI)
Investment analysts at Pacific Crest lifted their price objective on shares of Analog Devices (NYSE:ADI) from $54.00 to $61.00 in a note issued to investors on Wednesday, American Banking News reports. Pacific Crest’s target price points to a potential upside of 18.29% from the company’s current price.
A number of other analysts have also recently weighed in on ADI. Analysts at RBC Capital raised their price target on shares of Analog Devices from $46.00 to $50.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Analog Devices from $45.00 to $49.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Analog Devices from $52.00 to $54.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $52.15.
Shares of Analog Devices (NYSE:ADI) traded up 0.66% on Wednesday, hitting $51.57. 4,081,149 shares of the company’s stock traded hands. Analog Devices has a 1-year low of $41.81 and a 1-year high of $52.38. The stock has a 50-day moving average of $49.32 and a 200-day moving average of $48.60. The company has a market cap of $16.041 billion and a price-to-earnings ratio of 23.94.
Analog Devices (NYSE:ADI) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.01. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $628.87 million. On average, analysts predict that Analog Devices will post $2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 11th. Investors of record on Friday, February 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, February 26th. This is an increase from Analog Devices’s previous quarterly dividend of $0.34.
Analog Devices, Inc (NYSE:ADI) is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits (ICs).
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