Robert W. Baird Increases Analog Devices Price Target to $54.00 (ADI)
Investment analysts at Robert W. Baird upped their target price on shares of Analog Devices (NYSE:ADI) from $52.00 to $54.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork reports. Robert W. Baird’s price target would indicate a potential upside of 4.71% from the stock’s previous close.
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 one year low of $41.81 and a one 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 P/E ratio of 23.94.
Analog Devices (NYSE:ADI) last issued its quarterly earnings data 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. Analysts expect that Analog Devices will post $2.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 11th. Stockholders 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 a boost from Analog Devices’s previous quarterly dividend of $0.34.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets raised their price target on shares of Analog Devices from $47.00 to $51.00 in a research note on Wednesday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $50.00 to $55.00 in a research note on Wednesday. Finally, analysts at Canaccord Genuity raised their price target on shares of Analog Devices from $55.00 to $60.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price 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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