Analog Devices, Inc. (ADI) PT Raised to $100.00
Analog Devices, Inc. (NASDAQ:ADI) had its price target upped by stock analysts at Jefferies Group LLC to $100.00 in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 20.63% from the stock’s previous close.
Several other brokerages have also recently commented on ADI. B. Riley reiterated a “buy” rating and issued a $87.00 price target on shares of Analog Devices in a research report on Monday, February 13th. Drexel Hamilton boosted their price target on shares of Analog Devices to $93.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Bank of America Corp upgraded shares of Analog Devices from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.89 to $85.00 in a research report on Wednesday, November 23rd. KeyCorp boosted their price target on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 23rd. Finally, Evercore ISI reiterated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Analog Devices in a research report on Friday, December 16th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $83.28.
Analog Devices (NASDAQ:ADI) traded down 0.43% during midday trading on Monday, hitting $82.90. 2,713,967 shares of the company’s stock traded hands. The company has a market capitalization of $25.63 billion, a PE ratio of 28.27 and a beta of 1.19. The company has a 50 day moving average of $80.41 and a 200-day moving average of $70.80. Analog Devices has a 52 week low of $52.17 and a 52 week high of $84.24.
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Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 15th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The business had revenue of $984 million for the quarter, compared to analysts’ expectations of $871.58 million. During the same period in the previous year, the business earned $0.56 earnings per share. The company’s revenue was up 27.9% on a year-over-year basis. Equities research analysts predict that Analog Devices will post $3.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Friday, February 24th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.17%. The ex-dividend date was Wednesday, February 22nd. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. Analog Devices’s payout ratio is 60.87%.
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In other news, Director Ray Stata sold 50,000 shares of Analog Devices stock in a transaction dated 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 completion of the sale, the director now directly owns 259,481 shares in the company, valued at approximately $21,612,172.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenton J. Sicchitano sold 15,000 shares of Analog Devices stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $72.34, for a total value of $1,085,100.00. Following the sale, the director now owns 30,935 shares of the company’s stock, valued at $2,237,837.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,010 shares of company stock worth $9,502,046. Company insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC raised its stake in shares of Analog Devices by 33.0% in the third quarter. First Eagle Investment Management LLC now owns 4,031,950 shares of the company’s stock valued at $259,859,000 after buying an additional 1,001,397 shares in the last quarter. Shelton Capital Management raised its stake in shares of Analog Devices by 6.8% in the fourth quarter. Shelton Capital Management now owns 34,598 shares of the company’s stock valued at $2,513,000 after buying an additional 2,200 shares in the last quarter. Emerald Acquisition Ltd. raised its stake in shares of Analog Devices by 6.6% in the third quarter. Emerald Acquisition Ltd. now owns 195,773 shares of the company’s stock valued at $12,613,000 after buying an additional 12,109 shares in the last quarter. US Bancorp DE raised its stake in shares of Analog Devices by 24.0% in the third quarter. US Bancorp DE now owns 149,228 shares of the company’s stock valued at $9,617,000 after buying an additional 28,852 shares in the last quarter. Finally, Hermes Investment Management Ltd. raised its stake in shares of Analog Devices by 20.1% in the third quarter. Hermes Investment Management Ltd. now owns 871,108 shares of the company’s stock valued at $56,143,000 after buying an additional 145,504 shares in the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.
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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