Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $251.75

Analog Devices, Inc. (NASDAQ:ADI) has received an average rating of “Moderate Buy” from the twenty-four analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $251.75.

Several equities analysts have recently weighed in on ADI shares. Cantor Fitzgerald upgraded Analog Devices from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $250.00 to $270.00 in a report on Wednesday, June 18th. Benchmark reiterated a “buy” rating and issued a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. TD Cowen increased their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a research report on Friday, May 23rd. They issued a “buy” rating on the stock. Finally, Barclays increased their target price on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $246.08 on Wednesday. The company has a market capitalization of $122.12 billion, a price-to-earnings ratio of 67.05, a P/E/G ratio of 2.27 and a beta of 1.02. The firm’s 50 day simple moving average is $221.10 and its 200 day simple moving average is $212.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, sell-side analysts forecast that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s payout ratio is presently 107.90%.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares of the company’s stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of ADI. McLean Asset Management Corp bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $262,000. Trust Co of the South lifted its holdings in Analog Devices by 2.4% during the 2nd quarter. Trust Co of the South now owns 3,523 shares of the semiconductor company’s stock valued at $839,000 after purchasing an additional 84 shares during the last quarter. Cullen Investment Group LTD. boosted its position in Analog Devices by 8.6% during the second quarter. Cullen Investment Group LTD. now owns 25,606 shares of the semiconductor company’s stock worth $6,095,000 after purchasing an additional 2,029 shares during the period. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Analog Devices in the first quarter valued at $3,948,000. Finally, Voya Investment Management LLC raised its position in shares of Analog Devices by 211.9% in the first quarter. Voya Investment Management LLC now owns 745,251 shares of the semiconductor company’s stock valued at $150,295,000 after purchasing an additional 506,314 shares during the period. 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.