Shares of Analog Devices, Inc. (NASDAQ:ADI) gapped up before the market opened on Tuesday . The stock had previously closed at $108.81, but opened at $106.55. Analog Devices shares last traded at $105.12, with a volume of 90907 shares.
A number of analysts have recently weighed in on the company. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price target on the stock. in a research report on Monday, March 25th. Zacks Investment Research cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Nomura started coverage on Analog Devices in a report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price objective for the company. ValuEngine lowered Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, SunTrust Banks increased their price objective on Analog Devices to $126.00 and gave the stock an “average” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Analog Devices currently has an average rating of “Buy” and an average price target of $109.00.
The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The company has a market cap of $38.89 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 5.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 31st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, May 30th. Analog Devices’s dividend payout ratio is presently 36.36%.
In other news, SVP Yusuf Jamal sold 31,867 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 680 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $109.62, for a total value of $74,541.60. Following the sale, the senior vice president now directly owns 173 shares of the company’s stock, valued at $18,964.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,311 shares of company stock valued at $7,702,842. Corporate insiders own 0.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in shares of Analog Devices by 1.6% in the third quarter. Vanguard Group Inc now owns 31,687,292 shares of the semiconductor company’s stock valued at $2,929,807,000 after purchasing an additional 496,719 shares during the last quarter. BlackRock Inc. grew its position in shares of Analog Devices by 3.9% in the fourth quarter. BlackRock Inc. now owns 25,222,433 shares of the semiconductor company’s stock valued at $2,164,841,000 after purchasing an additional 950,203 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Analog Devices by 6.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,194,991 shares of the semiconductor company’s stock valued at $1,561,676,000 after purchasing an additional 1,147,088 shares during the last quarter. FMR LLC grew its position in shares of Analog Devices by 18.3% in the fourth quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock valued at $667,363,000 after purchasing an additional 1,200,683 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Analog Devices by 1.9% in the fourth quarter. Northern Trust Corp now owns 5,791,733 shares of the semiconductor company’s stock valued at $497,104,000 after purchasing an additional 109,661 shares during the last quarter. 89.64% of the stock is owned by institutional investors and hedge funds.
Analog Devices Company Profile (NASDAQ:ADI)
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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