Analog Devices (NASDAQ:ADI) Given New $215.00 Price Target at Oppenheimer

Analog Devices (NASDAQ:ADI – Get Rating) had its price target decreased by Oppenheimer from $230.00 to $215.00 in a research report report published on Thursday, The Fly reports.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Analog Devices from a hold rating to a buy rating in a report on Wednesday, May 17th. Citigroup reduced their target price on shares of Analog Devices from $225.00 to $200.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Analog Devices from $170.00 to $200.00 in a research note on Thursday, February 16th. Sanford C. Bernstein raised their price target on Analog Devices from $200.00 to $220.00 and gave the company an outperform rating in a report on Thursday, February 16th. Finally, Credit Suisse Group raised their price objective on Analog Devices from $185.00 to $225.00 and gave the stock a buy rating in a research report on Thursday, February 16th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $208.17.

Analog Devices Trading Down 0.5 %

Shares of Analog Devices stock opened at $172.39 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. Analog Devices has a twelve month low of $133.48 and a twelve month high of $198.24. The business has a 50-day moving average price of $186.11 and a 200-day moving average price of $176.80. The firm has a market cap of $87.20 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.44 and a beta of 1.15.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the firm earned $2.40 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices will post 10.65 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 2nd. Analog Devices’s payout ratio is currently 51.89%.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the transaction, the chief financial officer now owns 23,871 shares in the company, valued at approximately $4,464,115.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of Analog Devices stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the completion of the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at approximately $4,464,115.71. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $1,040,194,000. FMR LLC lifted its position in shares of Analog Devices by 72.8% during the 1st quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after acquiring an additional 5,748,969 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Analog Devices by 360.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock worth $288,077,000 after buying an additional 4,810,035 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after buying an additional 4,107,895 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Analog Devices by 16,424.9% during the 1st quarter. Proficio Capital Partners LLC now owns 3,140,564 shares of the semiconductor company’s stock worth $3,141,000 after buying an additional 3,121,559 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.