A number of other equities analysts have also recently issued reports on ADI. Piper Jaffray Companies raised their target price on shares of Analog Devices from $118.00 to $135.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Goldman Sachs Group raised shares of Analog Devices from a sell rating to a buy rating and raised their target price for the stock from $101.00 to $114.00 in a report on Monday, June 10th. SunTrust Banks cut their target price on shares of Analog Devices to $122.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Morgan Stanley cut their target price on shares of Analog Devices from $100.00 to $97.00 and set an equal weight rating on the stock in a report on Thursday, May 23rd. Finally, Nomura assumed coverage on shares of Analog Devices in a report on Monday, June 3rd. They issued a neutral rating and a $90.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $110.11.
Shares of NASDAQ ADI opened at $104.17 on Wednesday. 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 firm’s 50-day moving average price is $114.11 and its two-hundred day moving average price is $109.16. Analog Devices has a 52-week low of $76.62 and a 52-week high of $124.79. The stock has a market capitalization of $40.15 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.68 and a beta of 1.41.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.04. Analog Devices had a net margin of 24.71% and a return on equity of 18.01%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $1.53 earnings per share. Analog Devices’s revenue was down 5.0% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices will post 5.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 30th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.07%. Analog Devices’s dividend payout ratio is presently 36.36%.
In related news, SVP Joseph Hassett sold 10,040 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $109.38, for a total transaction of $1,098,175.20. Following the transaction, the senior vice president now owns 32,400 shares in the company, valued at $3,543,912. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $118.43, for a total transaction of $1,184,300.00. Following the transaction, the chief executive officer now owns 31,206 shares in the company, valued at approximately $3,695,726.58. The disclosure for this sale can be found here. Insiders have sold 70,399 shares of company stock worth $7,877,053 in the last quarter. Company insiders own 0.50% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC boosted its holdings in Analog Devices by 3.4% during the second quarter. Measured Wealth Private Client Group LLC now owns 2,507 shares of the semiconductor company’s stock worth $283,000 after buying an additional 83 shares in the last quarter. Nicolet Bankshares Inc. boosted its holdings in Analog Devices by 4.1% during the second quarter. Nicolet Bankshares Inc. now owns 2,169 shares of the semiconductor company’s stock worth $245,000 after buying an additional 85 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Analog Devices by 1.4% during the first quarter. Stratos Wealth Partners LTD. now owns 6,485 shares of the semiconductor company’s stock worth $683,000 after buying an additional 89 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Analog Devices by 7.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the semiconductor company’s stock worth $132,000 after buying an additional 90 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its holdings in Analog Devices by 43.8% during the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.
About Analog Devices
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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