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

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Moderate Buy” from the twenty-four research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $255.41.

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Analog Devices Trading Down 0.7 %

Shares of ADI stock opened at $233.73 on Thursday. The company has a market cap of $115.92 billion, a PE ratio of 74.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10. The stock’s 50 day simple moving average is $216.87 and its two-hundred day simple moving average is $220.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. Research analysts predict that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. 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 dividend yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.