Analog Devices Price Target Increased to $60.00 by Analysts at RBC Capital (ADI)
Stock analysts at RBC Capital raised their price objective on shares of Analog Devices (NYSE:ADI) from $55.00 to $60.00 in a report issued on Tuesday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price points to a potential upside of 8.48% from the company’s current price.
A number of other firms have also recently commented on ADI. Analysts at Pacific Crest raised their price target on shares of Analog Devices from $61.00 to $63.00 in a research note on Tuesday. Separately, analysts at MKM Partners raised their price target on shares of Analog Devices from $54.00 to $57.00 in a research note on Monday. They now have a “neutral” rating on the stock. Finally, analysts at ING Group raised their price target on shares of Analog Devices from $47.00 to $49.00 in a research note on Thursday, May 22nd. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.59.
In other Analog Devices news, CFO David Zinsner sold 5,140 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.46, for a total value of $269,644.40. The sale was disclosed in a document filed with the SEC, which is available at this link.
Analog Devices (NYSE:ADI) opened at 55.31 on Tuesday. Analog Devices has a 52 week low of $43.86 and a 52 week high of $56.18. The stock’s 50-day moving average is $52.00 and its 200-day moving average is $50.89. The company has a market cap of $17.375 billion and a price-to-earnings ratio of 23.33.
Analog Devices (NYSE:ADI) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $694.54 million for the quarter, compared to the consensus estimate of $670.93 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Analog Devices will post $2.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Friday, May 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, May 28th.
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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