Oppenheimer Increases Analog Devices Price Target to $60.00 (ADI)
Equities research analysts at Oppenheimer upped their price objective on shares of Analog Devices (NYSE:ADI) from $58.00 to $60.00 in a research note issued to investors on Wednesday, AR Network reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 16.35% from the stock’s previous close.
Shares of Analog Devices (NYSE:ADI) traded up 0.66% during mid-day trading on Wednesday, hitting $51.57. The stock had a trading volume of 4,081,149 shares. Analog Devices has a 52-week low of $41.81 and a 52-week 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 announced its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters 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 declared a quarterly dividend, which is scheduled for Tuesday, March 11th. Stockholders of record on Friday, February 28th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Analog Devices’s previous quarterly dividend of $0.34.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Analog Devices from $44.00 to $47.00 in a research note on Wednesday. Separately, analysts at Credit Suisse raised their price target on shares of Analog Devices from $50.00 to $55.00 in a research note on Tuesday. Finally, analysts at Drexel Hamilton upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. They now have a $60.00 price target on the stock, up previously from $48.00. 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 given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.15.
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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