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

Analog Devices (NASDAQ:ADI) had its target price upped by UBS Group from $275.00 to $300.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the semiconductor company’s stock.

ADI has been the subject of a number of other research reports. Truist Financial increased their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Morgan Stanley increased their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday. Finally, Barclays cut 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 report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 2.0 %

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 quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $118.49 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04. The company has a 50 day moving average of $215.50 and a two-hundred day moving average of $220.34.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

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

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 of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

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

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.