Truist Financial Lowers Analog Devices (NASDAQ:ADI) to Hold

Truist Financial downgraded shares of Analog Devices (NASDAQ:ADI) from a buy rating to a hold rating in a research report released on Monday morning, Marketbeat Ratings reports. Truist Financial currently has $233.00 price objective on the semiconductor company’s stock, down from their previous price objective of $266.00.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued a neutral rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the company an overweight rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an overweight rating in a report on Thursday, August 22nd. Oppenheimer reiterated an outperform rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a hold rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of Moderate Buy and a consensus price target of $249.80.

Analog Devices Stock Down 0.3 %

ADI opened at $226.64 on Monday. Analog Devices has a 12 month low of $154.99 and a 12 month high of $244.14. The business has a 50-day moving average of $223.24 and a two-hundred day moving average of $216.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market capitalization of $112.52 billion, a price-to-earnings ratio of 52.95, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business earned $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts expect that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock worth $7,181,458 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently bought and sold shares of ADI. New Millennium Group LLC acquired a new position in Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co bought a new position in shares of Analog Devices in the first quarter worth about $30,000. ORG Partners LLC increased its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices in the 2nd quarter valued at approximately $37,000. 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.