Analog Devices (NASDAQ:ADI) Price Target Increased to $260.00 by Analysts at Morgan Stanley

Analog Devices (NASDAQ:ADI) had its price target hoisted by Morgan Stanley from $221.00 to $260.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $220.00 to $260.00 and gave the company an overweight rating in a report on Thursday. Cantor Fitzgerald upped their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the company a neutral rating in a research report on Wednesday, May 15th. UBS Group upped their price objective on shares of Analog Devices from $225.00 to $275.00 and gave the company a buy rating in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a research report on Monday, May 20th. Finally, TD Cowen upped their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the company a buy rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of Moderate Buy and a consensus price target of $243.23.

Analog Devices Stock Down 0.9 %

ADI stock opened at $232.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88. The company has a 50-day moving average of $200.67 and a two-hundred day moving average of $193.84. The stock has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.77 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company earned $2.83 earnings per share. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices will post 6.16 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s dividend payout ratio is 85.98%.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s 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 directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on 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 directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Several hedge funds have recently modified their holdings of ADI. Pinnacle Bancorp Inc. grew its stake in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. USA Financial Formulas boosted its stake in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices in the third quarter valued at approximately $29,000. Cetera Trust Company N.A bought a new position in Analog Devices in the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in Analog Devices in the fourth quarter valued at approximately $29,000. 86.81% of the stock is 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.