Analog Devices (NASDAQ:ADI) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Analog Devices (NASDAQ:ADI) in a report issued on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $254.00 price objective on the semiconductor company’s stock.

ADI has been the subject of a number of other research reports. Barclays increased their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. KeyCorp increased their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reiterated a neutral rating and issued a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Sanford C. Bernstein downgraded shares of Analog Devices from an outperform rating to a market perform rating and set a $200.00 target price for the company. in a research report on Thursday, January 4th. Finally, Morgan Stanley reiterated an overweight rating and issued a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of Moderate Buy and an average price target of $208.17.

Analog Devices Stock Up 0.5 %

Shares of NASDAQ:ADI opened at $191.23 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market cap of $94.83 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 4.82 and a beta of 1.17. Analog Devices has a 52 week low of $154.99 and a 52 week high of $204.20. The firm has a 50 day simple moving average of $193.23 and a 200 day simple moving average of $186.44.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 EPS. As a group, research analysts expect that Analog Devices will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is 65.83%.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Large investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. increased its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new position in shares of Analog Devices in the third quarter valued at approximately $29,000. Cetera Trust Company N.A acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $29,000. Institutional investors 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.