Analog Devices (NASDAQ:ADI) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Analog Devices (NASDAQ:ADI) in a report published on Tuesday, Benzinga reports. They currently have a $250.00 price target on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an overweight rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a hold rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an outperform rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an overweight rating in a report on Thursday, August 22nd. Finally, Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a buy rating for the company in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $249.80.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $229.40 on Tuesday. Analog Devices has a 12 month low of $154.99 and a 12 month high of $244.14. The firm has a market capitalization of $113.83 billion, a P/E ratio of 53.74, a P/E/G ratio of 3.75 and a beta of 1.07. 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 business has a fifty day simple moving average of $222.81 and a two-hundred day simple moving average of $218.94.

Analog Devices (NASDAQ:ADI) last issued its quarterly 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. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the company posted $2.49 EPS. On average, equities analysts forecast that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction 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 transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock worth $20,794,658 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Institutional investors have recently made changes to their positions in the business. USA Financial Formulas boosted its stake in Analog Devices by 48.1% in the 3rd quarter. USA Financial Formulas now owns 6,377 shares of the semiconductor company’s stock worth $1,468,000 after purchasing an additional 2,071 shares during the period. Enterprise Bank & Trust Co lifted its holdings in shares of Analog Devices by 1.0% in the third quarter. Enterprise Bank & Trust Co now owns 9,184 shares of the semiconductor company’s stock worth $2,114,000 after buying an additional 92 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in shares of Analog Devices by 8.2% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 2,423 shares of the semiconductor company’s stock worth $558,000 after acquiring an additional 183 shares during the last quarter. Wedmont Private Capital grew its stake in Analog Devices by 6.6% during the third quarter. Wedmont Private Capital now owns 4,323 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 269 shares in the last quarter. Finally, Saxon Interests Inc. bought a new stake in Analog Devices in the 3rd quarter valued at $1,079,000. Hedge funds and other institutional investors 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.