Analog Devices, Inc. (NASDAQ:ADI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Analog Devices, Inc. (NASDAQ:ADI) have received a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $208.17.

Several equities analysts have weighed in on ADI shares. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. KeyCorp lifted their price objective on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays upped their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Wolfe Research upgraded 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 note on Thursday, January 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th.

Analog Devices Price Performance

Analog Devices stock opened at $204.79 on Friday. Analog Devices has a 52 week low of $154.99 and a 52 week high of $205.77. The company’s 50 day moving average price is $195.19 and its two-hundred day moving average price is $189.00. The stock has a market cap of $101.56 billion, a P/E ratio of 36.64, a P/E/G ratio of 5.01 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $2.75 earnings per share. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.80%. Analog Devices’s payout ratio is 65.83%.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently bought and sold shares of ADI. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $1,225,227,000. Massachusetts Financial Services Co. MA boosted its position in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the period. Nordea Investment Management AB boosted its position in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after buying an additional 1,486,180 shares during the period. International Assets Investment Management LLC grew its holdings in Analog Devices by 20,527.8% in the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after acquiring an additional 930,732 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Analog Devices by 27.7% in the first quarter. Van ECK Associates Corp now owns 3,691,023 shares of the semiconductor company’s stock valued at $730,047,000 after acquiring an additional 800,199 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

About Analog Devices

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.