Barclays upgraded shares of Analog Devices (NASDAQ:ADI) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Barclays currently has $130.00 target price on the semiconductor company’s stock, up from their prior target price of $105.00.
A number of other analysts also recently issued reports on ADI. Royal Bank of Canada decreased their price target on Analog Devices from $140.00 to $120.00 and set an outperform rating for the company in a report on Wednesday, May 22nd. ValuEngine raised Analog Devices from a hold rating to a buy rating in a report on Thursday, September 5th. Zacks Investment Research downgraded Analog Devices from a hold rating to a strong sell rating and set a $102.00 price target for the company. in a report on Wednesday, May 29th. Nomura started coverage on Analog Devices in a report on Monday, June 3rd. They set a neutral rating and a $90.00 price target for the company. Finally, Goldman Sachs Group raised Analog Devices from a sell rating to a buy rating and lifted their price target for the stock from $101.00 to $114.00 in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $111.67.
Shares of NASDAQ ADI opened at $116.52 on Thursday. The company has a market capitalization of $42.93 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92. The business has a 50-day moving average of $111.91 and a two-hundred day moving average of $109.81. Analog Devices has a 1 year low of $76.62 and a 1 year high of $124.79.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, August 29th. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.
In other news, CFO Prashanth Mahendra-Rajah sold 1,463 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $109.75, for a total transaction of $160,564.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $92.34, for a total value of $923,400.00. Following the sale, the chief executive officer now owns 351,335 shares in the company, valued at approximately $32,442,273.90. The disclosure for this sale can be found here. Insiders have sold 71,862 shares of company stock worth $7,978,717 in the last quarter. Insiders own 0.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Fiera Capital Corp increased its position in Analog Devices by 2.8% in the 1st quarter. Fiera Capital Corp now owns 1,667,696 shares of the semiconductor company’s stock valued at $175,559,000 after acquiring an additional 44,740 shares during the period. Tradition Capital Management LLC increased its position in Analog Devices by 18.6% in the 1st quarter. Tradition Capital Management LLC now owns 6,470 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 1,015 shares during the period. Timucuan Asset Management Inc. FL increased its position in Analog Devices by 2.2% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 820,650 shares of the semiconductor company’s stock valued at $86,390,000 after acquiring an additional 17,904 shares during the period. Beacon Investment Advisory Services Inc. acquired a new position in Analog Devices in the 2nd quarter valued at about $421,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Analog Devices by 43.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,225 shares of the semiconductor company’s stock valued at $1,603,000 after acquiring an additional 4,625 shares during the period. Hedge funds and other institutional investors own 87.52% of the company’s stock.
About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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