Analog Devices (NASDAQ:ADI) Stock Rating Upgraded by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Analog Devices (NASDAQ:ADIFree Report) from a neutral rating to an overweight rating in a research note released on Wednesday, Marketbeat reports. The firm currently has $270.00 price target on the semiconductor company’s stock, up from their previous price target of $250.00.

Several other research firms also recently weighed in on ADI. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Piper Sandler decreased their target price on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Oppenheimer lifted their target price on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. KGI Securities initiated coverage on Analog Devices in a research report on Friday, May 23rd. They set a “buy” rating for the company. Finally, Truist Financial lifted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.75.

View Our Latest Stock Report on Analog Devices

Analog Devices Stock Performance

NASDAQ:ADI opened at $229.65 on Wednesday. The stock’s fifty day moving average is $207.54 and its 200 day moving average is $211.05. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a market capitalization of $113.96 billion, a PE ratio of 62.58, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

Analog Devices (NASDAQ:ADIGet Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s payout ratio is currently 107.90%.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,934 shares of company stock valued at $5,807,196 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management boosted its holdings in Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter worth about $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the fourth quarter worth about $27,000. Alpine Bank Wealth Management acquired a new stake in Analog Devices in the first quarter worth about $27,000. Finally, Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

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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.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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