Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00

Analog Devices (NASDAQ:ADI) had its price target raised by JPMorgan Chase & Co. from $280.00 to $300.00 in a research report sent to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Benchmark lifted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday. Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Barclays dropped their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Down 2.0 %

Shares of ADI stock 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 company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $215.50 and its 200 day moving average is $220.34. The stock has a market capitalization of $118.49 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts expect that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Increases Dividend

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

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

A number of large investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its holdings in shares of Analog Devices by 6.7% in the 4th quarter. Mackenzie Financial Corp now owns 741,899 shares of the semiconductor company’s stock worth $157,624,000 after buying an additional 46,539 shares during the last quarter. Baer Investment Advisory LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $3,743,000. Griffith & Werner Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth about $210,000. GF Fund Management CO. LTD. bought a new stake in shares of Analog Devices in the 4th quarter worth about $19,984,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth about $50,000. 86.81% of the stock is currently owned by institutional investors.

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.