Analog Devices PT Raised to $63.00 (ADI)
Stock analysts at Pacific Crest increased their target price on shares of Analog Devices (NYSE:ADI) from $62.00 to $63.00 in a report issued on Wednesday. Pacific Crest’s price objective indicates a potential upside of 23.47% from the company’s current price.
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 52-week low of $45.28 and a 52-week 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 $16.029 billion and a price-to-earnings ratio of 23.12.
Analog Devices (NYSE:ADI) last issued its quarterly 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. On average, analysts predict that Analog Devices will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders 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%.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $55.00 to $60.00 in a research note on Wednesday. Separately, 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. Finally, 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. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $57.24.
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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