Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned a consensus rating of “Buy” from the twenty-seven analysts that are presently covering the stock. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $83.50.
Several brokerages recently commented on ADI. B. Riley reiterated a “buy” rating and set a $87.00 target price on shares of Analog Devices in a report on Wednesday, November 23rd. Stifel Nicolaus raised their target price on Analog Devices to $92.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Analog Devices in a report on Friday. Pacific Crest raised their target price on Analog Devices to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 7th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $90.00 target price (up from $85.00) on shares of Analog Devices in a report on Monday, March 13th.
In related news, Director Bruce R. Evans acquired 25,000 shares of Analog Devices stock in a transaction that occurred on Friday, March 17th. The stock was acquired at an average price of $83.12 per share, for a total transaction of $2,078,000.00. Following the transaction, the director now directly owns 53,540 shares of the company’s stock, valued at approximately $4,450,244.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $72.15, for a total value of $216,450.00. Following the transaction, the senior vice president now owns 14,284 shares of the company’s stock, valued at approximately $1,030,590.60. The disclosure for this sale can be found here. Insiders have sold a total of 117,010 shares of company stock valued at $9,502,046 in the last 90 days. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Evercore Wealth Management LLC increased its stake in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of Analog Devices during the third quarter valued at $101,000. Parallel Advisors LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at $115,000. Penserra Capital Management LLC increased its stake in shares of Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock valued at $123,000 after buying an additional 938 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Analog Devices by 33.3% in the third quarter. CENTRAL TRUST Co now owns 2,521 shares of the company’s stock valued at $162,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.
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Shares of Analog Devices (NASDAQ:ADI) opened at 82.90 on Thursday. Analog Devices has a 52 week low of $52.17 and a 52 week high of $84.24. The stock has a market cap of $25.63 billion, a PE ratio of 28.27 and a beta of 1.19. The firm has a 50-day moving average price of $80.41 and a 200-day moving average price of $70.80.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 15th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. The business had revenue of $984 million for the quarter, compared to the consensus estimate of $871.58 million. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The company’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. On average, analysts forecast that Analog Devices will post $3.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Friday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.42. Analog Devices’s payout ratio is currently 60.87%.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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