Argus Reaffirms Buy Rating for Analog Devices (ADI)
Analog Devices (NYSE:ADI)‘s stock had its “buy” rating reaffirmed by Argus in a research note issued on Thursday. They currently have a $50.25 price objective on the stock, down from their previous price objective of $65.00.
Several other analysts have also recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and a consensus target price of $56.65.
Shares of Analog Devices (NYSE:ADI) opened at 50.25 on Thursday. 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 $51.16 and a 200-day moving average of $52.30. The company has a market cap of $15.789 billion and a P/E ratio of 22.15.
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. Investors 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 2.95%. The ex-dividend date is Wednesday, September 3rd.
In other Analog Devices news, CEO Vincent Roche sold 8,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.10, for a total value of $408,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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