Analog Devices, Inc. (NASDAQ:ADI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Analog Devices, Inc. (NASDAQ:ADI) have received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $254.05.

A number of equities analysts have recently weighed in on ADI shares. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th.

Analog Devices Trading Up 0.2 %

NASDAQ ADI opened at $176.27 on Friday. Analog Devices has a one year low of $158.65 and a one year high of $247.10. The firm has a market cap of $87.43 billion, a PE ratio of 56.14, a P/E/G ratio of 2.85 and a beta of 1.06. The firm’s fifty day moving average is $206.55 and its two-hundred day moving average is $214.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last issued 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts expect that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock worth $6,154,756 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Midwest Professional Planners LTD. increased its position in shares of Analog Devices by 0.6% in the 4th 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. Portland Global Advisors LLC increased its holdings in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC raised its stake in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 54 shares in the last quarter. West Oak Capital LLC lifted its holdings in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its position in shares of Analog Devices by 63.2% in the 4th 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 in the last quarter. 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.