Analog Devices Assigned A+ Credit Rating by Morningstar (ADI)
Analog Devices (NYSE:ADI) has been given an “A+” credit rating by Morningstar. The firm’s “A+” rating indicates that the company is a low default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on ADI. Analysts at Robert W. Baird raised their price target on shares of Analog Devices from $54.00 to $55.00 in a research note on Wednesday, August 27th. Separately, analysts at Pacific Crest raised their price target on shares of Analog Devices from $62.00 to $63.00 in a research note on Wednesday, August 27th. Finally, 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, August 27th. 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. Analog Devices presently has an average rating of “Buy” and an average target price of $57.24.
Analog Devices (NYSE:ADI) opened at 51.12 on Tuesday. 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 $51.43 and its 200-day moving average is $52.27. The company has a market cap of $16.063 billion and a price-to-earnings ratio of 22.60.
Analog Devices (NYSE:ADI) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.57 earnings per share. Analog Devices’s revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Analog Devices will post $2.38 earnings per share 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 2.90%. The ex-dividend date of this dividend is Wednesday, September 3rd.
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).
To view more credit ratings from Morningstar, visit www.morningstar.com.
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