Evercore ISI Begins Coverage on Analog Devices (NASDAQ:ADI)

Evercore ISI started coverage on shares of Analog Devices (NASDAQ:ADI) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $254.00 price objective on the semiconductor company’s stock.

ADI has been the topic of a number of other research reports. Sanford C. Bernstein lowered shares of Analog Devices from an outperform rating to a market perform rating and set a $200.00 target price on the stock. in a report on Thursday, January 4th. Cantor Fitzgerald reaffirmed a neutral rating and issued a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Truist Financial reduced their target price on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Wolfe Research raised shares of Analog Devices from a peer perform rating to an outperform rating and set a $225.00 target price for the company in a research report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $208.17.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $187.58 on Tuesday. The firm’s 50-day moving average price is $193.05 and its 200-day moving average price is $186.47. Analog Devices has a 1-year low of $154.99 and a 1-year high of $204.20. The firm has a market capitalization of $93.02 billion, a P/E ratio of 33.56, a P/E/G ratio of 4.80 and a beta of 1.17. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insiders Place Their Bets

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,825,113 in the last quarter. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds have recently modified their holdings of the company. West Oak Capital LLC raised its stake in Analog Devices by 1.0% during the first quarter. West Oak Capital LLC now owns 12,644 shares of the semiconductor company’s stock valued at $2,501,000 after purchasing an additional 125 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. purchased a new stake in Analog Devices during the first quarter valued at $240,000. Iams Wealth Management LLC raised its stake in Analog Devices by 5.6% during the first quarter. Iams Wealth Management LLC now owns 5,587 shares of the semiconductor company’s stock valued at $1,049,000 after purchasing an additional 294 shares in the last quarter. O ROURKE & COMPANY Inc raised its stake in shares of Analog Devices by 34.8% in the first quarter. O ROURKE & COMPANY Inc now owns 4,758 shares of the semiconductor company’s stock valued at $941,000 after acquiring an additional 1,228 shares during the period. Finally, Claro Advisors LLC raised its stake in shares of Analog Devices by 4.4% in the first quarter. Claro Advisors LLC now owns 5,850 shares of the semiconductor company’s stock valued at $1,157,000 after acquiring an additional 245 shares during the period. 86.81% of the stock is currently owned by institutional investors.

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.