Analog Devices (NASDAQ:ADI) Price Target Increased to $260.00 by Analysts at JPMorgan Chase & Co.

Analog Devices (NASDAQ:ADI) had its price target upped by JPMorgan Chase & Co. from $220.00 to $260.00 in a research report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an equal weight rating in a research note on Monday, May 20th. Oppenheimer lifted their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Stifel Nicolaus lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a buy rating in a research note on Monday, May 20th. Bank of America lifted their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the stock a buy rating in a report on Thursday. Finally, Truist Financial decreased their price objective on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $243.23.

Analog Devices Trading Down 0.9 %

ADI opened at $232.51 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $200.67 and its 200-day moving average is $193.84. The firm has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.77 and a beta of 1.14. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. Analysts expect that Analog Devices will post 6.16 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,874,613 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently bought and sold shares of ADI. MGO One Seven LLC raised its position in Analog Devices by 14.6% in the third quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock worth $502,000 after acquiring an additional 366 shares in the last quarter. Syon Capital LLC bought a new stake in Analog Devices in the third quarter worth about $498,000. NBC Securities Inc. acquired a new stake in Analog Devices during the 3rd quarter worth about $123,000. Pinnacle Financial Partners Inc raised its holdings in Analog Devices by 606.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock worth $400,000 after buying an additional 1,959 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its holdings in Analog Devices by 5.1% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,772 shares of the semiconductor company’s stock worth $310,000 after buying an additional 86 shares during the period. 86.81% of the stock is currently owned by institutional investors.

About Analog Devices

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.