Analog Devices (NASDAQ:ADI) Price Target Raised to $220.00

Analog Devices (NASDAQ:ADI) had its price target hoisted by Sanford C. Bernstein from $200.00 to $220.00 in a report released on Thursday, Benzinga reports. The firm currently has a market perform rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on ADI. Cantor Fitzgerald raised their price target on shares of Analog Devices from $205.00 to $240.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an outperform rating and a $254.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a buy rating in a research report on Monday, May 20th. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a buy rating and a $250.00 price objective for the company. Finally, Bank of America increased their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the stock a buy rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $243.23.

Analog Devices Stock Down 0.9 %

ADI stock opened at $232.51 on Thursday. The company has a market cap of $115.38 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.77 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Analog Devices has a 12 month low of $154.99 and a 12 month high of $241.88. The firm has a 50-day moving average of $200.67 and a two-hundred day moving average of $193.84.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.83 EPS. As a group, analysts forecast that Analog Devices will post 6.16 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

Insider Activity at Analog Devices

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value 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 $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value 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 $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 over the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Bancorp Inc. raised its holdings in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas raised its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Analog Devices during the third quarter worth about $29,000. Cetera Trust Company N.A purchased a new position in Analog Devices during the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Analog Devices during the fourth quarter worth about $29,000. 86.81% of the stock is owned by hedge funds and other 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.