Analog Devices’ (ADI) Buy Rating Reiterated at B. Riley
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research report issued on Thursday. They currently have a $103.00 target price on the stock. B. Riley’s target price would suggest a potential upside of 23.71% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Evercore ISI restated a “buy” rating and set a $85.00 target price (up previously from $80.00) on shares of Analog Devices in a report on Friday, December 16th. Bank of America Corp upgraded Analog Devices from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.89 to $85.00 in a report on Wednesday, November 23rd. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Analog Devices in a report on Monday, November 21st. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Wednesday, February 15th. Finally, Jefferies Group LLC raised their target price on Analog Devices from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.04.
Analog Devices (NASDAQ:ADI) traded up 0.65% during trading on Thursday, reaching $83.26. The company had a trading volume of 4,184,005 shares. The company has a 50 day moving average price of $80.41 and a 200 day moving average price of $70.80. Analog Devices has a 52-week low of $52.17 and a 52-week high of $84.24. The company has a market capitalization of $25.74 billion, a PE ratio of 28.40 and a beta of 1.19.
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Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 15th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.20. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The firm had revenue of $984 million for the quarter, compared to analysts’ expectations of $871.58 million. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue was up 27.9% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices will post $3.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Friday, February 24th were paid a $0.45 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.16%. Analog Devices’s payout ratio is presently 60.87%.
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In other Analog Devices news, Director Ray Stata sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $83.29, for a total transaction of $4,164,500.00. Following the transaction, the director now owns 259,481 shares of the company’s stock, valued at approximately $21,612,172.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $72.15, for a total value of $216,450.00. Following the transaction, the senior vice president now directly owns 14,284 shares in the company, valued at approximately $1,030,590.60. The disclosure for this sale can be found here. Insiders sold a total of 117,010 shares of company stock worth $9,502,046 in the last 90 days. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Evercore Wealth Management LLC raised its position in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the period. Peddock Capital Advisors LLC acquired a new position in Analog Devices during the third quarter worth $101,000. NN Investment Partners Holdings N.V. acquired a new position in Analog Devices during the first quarter worth $105,000. Meeder Asset Management Inc. acquired a new position in Analog Devices during the first quarter worth $112,000. Finally, Parallel Advisors LLC acquired a new position in Analog Devices during the fourth quarter worth $115,000. 90.38% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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