Analog Devices’ (ADI) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Analog Devices (NASDAQ:ADI) in a report published on Thursday morning,Benzinga reports. Oppenheimer currently has a $270.00 price objective on the semiconductor company’s stock, up from their previous price objective of $245.00.

Several other equities research analysts also recently issued reports on ADI. Benchmark raised their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group lifted their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lifted their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Trading Down 2.0 %

Shares of Analog Devices stock opened at $238.91 on Thursday. The business has a fifty day simple moving average of $215.50 and a two-hundred day simple moving average of $220.34. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a market capitalization of $118.49 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices will post 7.09 EPS for the current year.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 117.20%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Hawaii grew its holdings in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the last quarter. MONECO Advisors LLC grew its holdings in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares during the last quarter. DT Investment Partners LLC grew its holdings in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after purchasing an additional 51 shares during the last quarter. Midwest Professional Planners LTD. grew its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Finally, Portland Global Advisors LLC grew its holdings in shares of Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 53 shares during the last quarter. 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.