Analog Devices (NASDAQ:ADI) had its price target upped by Morgan Stanley from $103.00 to $108.00 in a research note issued to investors on Wednesday morning. Morgan Stanley currently has an overweight rating on the semiconductor company’s stock.
Several other equities research analysts have also recently commented on ADI. B. Riley reissued a buy rating and issued a $110.00 target price on shares of Analog Devices in a research note on Sunday, August 27th. Stifel Nicolaus reaffirmed a buy rating and set a $97.00 price objective on shares of Analog Devices in a research note on Monday, September 25th. BidaskClub raised Analog Devices from a sell rating to a hold rating in a research note on Wednesday, August 16th. KeyCorp reaffirmed a buy rating and set a $107.00 price objective on shares of Analog Devices in a research note on Friday, November 24th. Finally, Instinet raised Analog Devices from a reduce rating to a neutral rating and lifted their price objective for the stock from $72.50 to $80.00 in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $96.71.
Analog Devices (ADI) traded up $1.25 during midday trading on Wednesday, hitting $86.69. The stock had a trading volume of 3,770,000 shares, compared to its average volume of 3,297,602. The firm has a market cap of $31,957.05, a PE ratio of 18.52, a P/E/G ratio of 1.60 and a beta of 1.29. Analog Devices has a one year low of $71.00 and a one year high of $93.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13.
Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. equities research analysts forecast that Analog Devices will post 5.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.80 annualized dividend and a yield of 2.08%. Analog Devices’s dividend payout ratio is presently 86.96%.
In other news, SVP Joseph Hassett sold 18,400 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $85.06, for a total value of $1,565,104.00. Following the sale, the senior vice president now directly owns 30,139 shares in the company, valued at $2,563,623.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Champy sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $87.00, for a total value of $435,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,656 shares of company stock worth $18,274,198. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Family Office LLC raised its holdings in Analog Devices by 37.9% during the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 2,004 shares in the last quarter. ZWJ Investment Counsel Inc. raised its holdings in Analog Devices by 56.0% during the third quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock worth $713,000 after acquiring an additional 2,970 shares in the last quarter. Captrust Financial Advisors bought a new stake in Analog Devices during the second quarter worth about $1,130,000. Renaissance Technologies LLC raised its holdings in Analog Devices by 4.5% during the second quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock worth $171,774,000 after acquiring an additional 94,804 shares in the last quarter. Finally, Dupont Capital Management Corp increased its position in Analog Devices by 34.2% during the second quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock worth $1,127,000 after buying an additional 3,690 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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