Oppenheimer Issues Positive Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective hoisted by Oppenheimer from $225.00 to $265.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on ADI. Barclays decreased their price target on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 17th. UBS Group lowered their target price on Analog Devices from $300.00 to $295.00 and set a “buy” rating for the company in a report on Monday, May 12th. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.95.

Analog Devices Stock Performance

NASDAQ ADI opened at $227.11 on Friday. The company has a market capitalization of $112.64 billion, a price-to-earnings ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.10. The stock has a fifty day simple moving average of $196.58 and a 200 day simple moving average of $210.33. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Sell-side analysts expect that Analog Devices will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has authorized a stock 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 buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Hedge funds have recently modified their holdings of the company. Brookstone Capital Management increased its stake in shares of Analog Devices by 21.9% during the 4th quarter. Brookstone Capital Management now owns 1,889 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 340 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Analog Devices by 7.6% during the 4th quarter. Capital Investment Advisors LLC now owns 1,020 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 72 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Analog Devices by 432.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 136,570 shares of the semiconductor company’s stock worth $29,016,000 after purchasing an additional 110,904 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Analog Devices by 4.5% during the 4th quarter. Park Avenue Securities LLC now owns 13,149 shares of the semiconductor company’s stock worth $2,794,000 after purchasing an additional 563 shares during the last quarter. Finally, JGP Wealth Management LLC increased its stake in shares of Analog Devices by 2.7% during the 4th quarter. JGP Wealth Management LLC now owns 78,149 shares of the semiconductor company’s stock worth $16,604,000 after purchasing an additional 2,050 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

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.