Macquarie Reaffirms Outperform Rating for Analog Devices (ADI)
Analog Devices (NYSE:ADI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a note issued to investors on Wednesday. They currently have a $55.00 target price on the stock, down from their previous target price of $60.00. Macquarie’s target price points to a potential upside of 5.34% from the stock’s previous close.
Analog Devices (NYSE:ADI) traded down 3.17% during mid-day trading on Wednesday, hitting $50.555. 1,910,884 shares of the company’s stock traded hands. 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 $15.882 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%.
A number of other firms have also recently commented on ADI. Analysts at Barclays reiterated an “equal weight” rating on shares of Analog Devices in a research note on Wednesday. They now have a $50.00 price target on the stock, up previously from $49.00. Separately, 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. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday. They now have a $61.00 price target on the stock, down previously from $64.00. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and a consensus price target of $57.08.
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).