Analog Devices PT Lowered to $56.00 (ADI)
Equities research analysts at RBC Capital decreased their price target on shares of Analog Devices (NYSE:ADI) from $60.00 to $56.00 in a research note issued to investors on Wednesday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 7.26% from the stock’s previous close.
A number of other analysts have also recently weighed in on ADI. Analysts at Jefferies Group reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday, July 30th. They now have a $62.00 price target on the stock, up previously from $58.00. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating and a $66.00 price target on the stock. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.09.
Analog Devices (NYSE:ADI) opened at 52.21 on Wednesday. Analog Devices has a one year low of $45.28 and a one year high of $56.18. The stock’s 50-day moving average is $51.79 and its 200-day moving average is $52.25. The company has a market cap of $16.402 billion and a P/E ratio of 23.12.
Analog Devices (NYSE:ADI) last released its earnings data on Tuesday, August 26th. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue 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 declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Investors of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.83%.
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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