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

Analog Devices, Inc. (NASDAQ:ADI) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $249.80.

ADI has been the subject of a number of recent analyst reports. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.6 %

Shares of Analog Devices stock opened at $209.65 on Tuesday. Analog Devices has a 52-week low of $179.44 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company’s 50-day simple moving average is $225.70 and its 200-day simple moving average is $225.44. The firm has a market cap of $104.09 billion, a price-to-earnings ratio of 62.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 earnings per share. As a group, equities research analysts anticipate that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

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.