Analog Devices’ (ADI) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Analog Devices (NASDAQ:ADI) in a research note released on Thursday morning,Benzinga reports.

A number of other research analysts also recently issued reports on the company. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen lowered their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Truist Financial raised their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Trading Down 2.0 %

Shares of NASDAQ:ADI opened at $238.91 on Thursday. Analog Devices has a 12-month low of $182.57 and a 12-month high of $247.10. The business’s fifty day simple moving average is $215.50 and its 200-day simple moving average is $220.34. The company has a market capitalization of $118.49 billion, a PE ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $1.73 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 117.20%.

Analog Devices declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the 3rd quarter valued at about $28,000. Orion Capital Management LLC purchased a new position in shares of Analog Devices in the 4th quarter valued at about $27,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.