Analog Devices, Inc. (NASDAQ:ADI) Receives $208.17 Consensus Target Price from Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $208.17.

A number of analysts recently commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research report on Thursday, January 18th. Barclays increased their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC increased its holdings in shares of Analog Devices by 77.5% during the third quarter. FinTrust Capital Advisors LLC now owns 474 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 207 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Analog Devices by 0.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 349,631 shares of the semiconductor company’s stock worth $61,217,000 after purchasing an additional 2,251 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of Analog Devices by 3.6% during the third quarter. Stratos Wealth Partners LTD. now owns 8,437 shares of the semiconductor company’s stock worth $1,477,000 after purchasing an additional 294 shares during the period. Stratos Wealth Advisors LLC increased its holdings in shares of Analog Devices by 9.3% during the third quarter. Stratos Wealth Advisors LLC now owns 9,362 shares of the semiconductor company’s stock worth $1,639,000 after purchasing an additional 795 shares during the period. Finally, Independent Advisor Alliance increased its holdings in shares of Analog Devices by 2.5% during the third quarter. Independent Advisor Alliance now owns 16,454 shares of the semiconductor company’s stock worth $2,881,000 after purchasing an additional 402 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

ADI stock opened at $199.63 on Friday. The business’s fifty day moving average is $194.27 and its 200-day moving average is $188.38. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The company has a market cap of $99.00 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14. Analog Devices has a twelve month low of $154.99 and a twelve month high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company earned $2.75 EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. Equities research analysts forecast that Analog Devices will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

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.