Analog Devices (NASDAQ:ADI) Given New $285.00 Price Target at UBS Group

Analog Devices (NASDAQ:ADI) had its price target decreased by UBS Group from $295.00 to $285.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also commented on the company. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Benchmark dropped their price target on Analog Devices from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Piper Sandler dropped their price target on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Truist Financial raised their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.69.

Analog Devices Stock Down 0.7%

ADI stock opened at $210.47 on Friday. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $104.39 billion, a PE ratio of 67.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The business has a 50 day moving average of $197.66 and a 200 day moving average of $210.13.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. On average, research analysts forecast that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.88%. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Analog Devices announced that its board has approved a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several large investors have recently made changes to their positions in the company. EFG Asset Management North America Corp. increased its holdings in shares of Analog Devices by 0.3% in the first quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock worth $2,866,000 after purchasing an additional 47 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC increased its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 53 shares during the last quarter. Heritage Financial Services LLC increased its holdings in shares of Analog Devices by 1.6% in the first quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company’s stock worth $669,000 after purchasing an additional 53 shares during the last quarter. Finally, NTV Asset Management LLC increased its holdings in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.