Analog Devices Price Target Increased to $60.00 by Analysts at JPMorgan Chase & Co. (ADI)
Stock analysts at JPMorgan Chase & Co. increased their price objective on shares of Analog Devices (NYSE:ADI) from $55.00 to $60.00 in a report issued on Wednesday. JPMorgan Chase & Co.’s price target would suggest a potential upside of 17.59% from the company’s current price.
A number of other analysts have also recently weighed in on ADI. Analysts at Zacks reiterated a “neutral” rating on shares of Analog Devices in a research note on Wednesday. They now have a $55.00 price target on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Analog Devices in a research note on Wednesday. They now have a $55.00 price target on the stock, down previously from $60.00. Finally, analysts at Barclays raised their price target on shares of Analog Devices from $49.00 to $50.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $57.24.
Shares of Analog Devices (NYSE:ADI) traded down 2.27% during mid-day trading on Wednesday, hitting $51.025. The stock had a trading volume of 4,754,330 shares. Analog Devices has a one year low of $45.28 and a one year high of $56.18. The stock has a 50-day moving average of $51.79 and a 200-day moving average of $52.25. The company has a market cap of $16.029 billion and a price-to-earnings ratio of 23.12.
Analog Devices (NYSE:ADI) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Analog Devices will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.90%.
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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