Analog Devices, Inc. (NASDAQ:ADI) Given Average Recommendation of “Moderate Buy” by Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $249.80.

Several analysts have recently weighed in on ADI shares. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold 51,495 shares of company stock valued at $11,637,458 in the last 90 days. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently bought and sold shares of ADI. Swedbank AB bought a new position in shares of Analog Devices in the 1st quarter valued at about $537,171,000. Vanguard Group Inc. boosted its position in Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of Analog Devices during the 1st quarter worth approximately $181,232,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $232.05 on Monday. Analog Devices has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a fifty day simple moving average of $222.95 and a 200 day simple moving average of $217.52. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market cap of $115.15 billion, a P/E ratio of 54.22, a P/E/G ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The company’s revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.59%. Analog Devices’s payout ratio is currently 85.98%.

Analog Devices Company Profile

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.