Analog Devices Receives “Buy” Rating from Jefferies Group (ADI)
Analog Devices (NYSE:ADI)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research report issued on Tuesday. They currently have a $64.00 price objective on the stock, up from their previous price objective of $60.00. Jefferies Group’s price objective indicates a potential upside of 15.71% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie reiterated an “outperform” rating on shares of Analog Devices in a research note on Tuesday. They now have a $60.00 price target on the stock, up previously from $55.00. Separately, analysts at Argus raised their price target on shares of Analog Devices from $58.00 to $65.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Analog Devices from $55.00 to $60.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices has an average rating of “Hold” and a consensus target price of $56.33.
In other Analog Devices news, CFO David Zinsner unloaded 5,140 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $52.46, for a total value of $269,644.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Analog Devices (NYSE:ADI) traded up 0.89% during mid-day trading on Tuesday, hitting $55.80. 1,324,382 shares of the company’s stock traded hands. Analog Devices has a 52 week low of $43.86 and a 52 week high of $56.18. The stock has a 50-day moving average of $52.00 and a 200-day moving average of $50.89. The company has a market cap of $17.529 billion and a P/E ratio of 24.50.
Analog Devices (NYSE:ADI) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ 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 $2.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Friday, May 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.68%. The ex-dividend date 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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