Analog Devices (NASDAQ:ADI) Price Target Raised to $248.00

Analog Devices (NASDAQ:ADI) had its price objective lifted by Truist Financial from $230.00 to $248.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a hold rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on ADI. Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $238.91 on Thursday. Analog Devices has a 52 week low of $182.57 and a 52 week high of $247.10. The stock has a market capitalization of $118.49 billion, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The firm has a 50-day simple moving average of $215.50 and a 200-day simple moving average of $220.34. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the business earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post 7.09 earnings per share for the current fiscal year.

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

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 $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in Analog Devices in the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new position in Analog Devices in the third quarter worth approximately $28,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.