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

Analog Devices (NASDAQ:ADI) had its target price boosted by Truist Financial from $216.00 to $230.00 in a report published on Friday,Benzinga reports. The firm currently has a hold rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ADI. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Trading Down 3.7 %

NASDAQ ADI opened at $212.37 on Friday. The firm’s fifty day moving average is $216.48 and its two-hundred day moving average is $222.97. Analog Devices has a one year low of $182.57 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market cap of $105.40 billion, a PE ratio of 64.55, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts expect that Analog Devices will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADI. Capital Performance Advisors LLP acquired a new position in Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices in the 3rd quarter worth $43,000. Reston Wealth Management LLC acquired a new position in Analog Devices in the third quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Analog Devices during the third quarter valued at about $80,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.