Analog Devices (NASDAQ:ADI) Price Target Raised to $290.00

Analog Devices (NASDAQ:ADI) had its target price hoisted by Bank of America from $275.00 to $290.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on ADI. Cantor Fitzgerald upped their price target on shares of Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Benchmark boosted their price objective on Analog Devices from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. KeyCorp raised their target price on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 21st. Finally, Evercore ISI reduced their price objective on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.87.

Analog Devices Trading Up 2.9%

Shares of ADI stock opened at $265.52 on Wednesday. Analog Devices has a 12 month low of $158.65 and a 12 month high of $265.75. The company has a market cap of $130.62 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $239.64 and its two-hundred day moving average is $236.21.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities analysts predict that Analog Devices will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s payout ratio is currently 86.84%.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at $1,242,343.32. This trade represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of Analog Devices stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the transaction, the senior vice president directly owned 63,048 shares of the company’s stock, valued at $15,525,570. This represents a 16.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 39,750 shares of company stock valued at $9,598,496. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Analog Devices by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 50,389,306 shares of the semiconductor company’s stock worth $12,380,652,000 after acquiring an additional 162,075 shares during the last quarter. State Street Corp raised its position in Analog Devices by 0.4% in the 3rd quarter. State Street Corp now owns 23,399,046 shares of the semiconductor company’s stock valued at $5,749,146,000 after purchasing an additional 81,790 shares during the last quarter. Geode Capital Management LLC boosted its stake in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Analog Devices by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after purchasing an additional 2,407,460 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Analog Devices in the second quarter valued at $1,803,377,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.