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

Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $249.33.

ADI has been the topic of a number of research reports. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. TD Cowen reduced 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. Finally, Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $11,029,300 in the last three months. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of ADI. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Trifecta Capital Advisors LLC boosted its position in shares of Analog Devices by 544.8% during the second quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 158 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Analog Devices in the third quarter worth $43,000. Finally, Reston Wealth Management LLC purchased a new position in Analog Devices during the third quarter valued at $48,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $215.87 on Wednesday. The business has a 50 day simple moving average of $216.99 and a 200 day simple moving average of $223.12. Analog Devices has a one year low of $182.57 and a one year high of $244.14. The company has a market capitalization of $107.14 billion, a PE ratio of 65.61, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. On average, sell-side analysts forecast that Analog Devices will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.