Analog Devices Rating Reiterated by Barclays (ADI)
Analog Devices (NYSE:ADI)‘s stock had its “equal weight” rating restated by analysts at Barclays in a research report issued to clients and investors on Wednesday. They currently have a $50.00 price objective on the stock, up from their previous price objective of $49.00. Barclays’ price target would indicate a potential downside of 4.23% from the company’s current price.
Shares of Analog Devices (NYSE:ADI) traded down 3.03% on Wednesday, hitting $50.63. The stock had a trading volume of 510,539 shares. Analog Devices has a 1-year low of $45.28 and a 1-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 $15.905 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 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 declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Stockholders 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%.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital cut their price target on shares of Analog Devices from $60.00 to $56.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday. Finally, 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. 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 $57.13.
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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