Morgan Stanley Increases Analog Devices (NASDAQ:ADI) Price Target to $250.00

Analog Devices (NASDAQ:ADI) had its price objective hoisted by Morgan Stanley from $248.00 to $250.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ADI. Piper Sandler decreased their price target 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. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday. Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Down 2.0 %

Shares of Analog Devices stock opened at $238.91 on Thursday. The company has a fifty day moving average price of $215.50 and a 200 day moving average price of $220.34. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices has a twelve month low of $182.57 and a twelve month high of $247.10. The stock has a market cap 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.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $1.73 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced 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 represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 117.20%.

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

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction 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 company insiders.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the third quarter worth about $28,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC raised its stake 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 acquiring an additional 55 shares during the period. Institutional investors and hedge funds 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.