Analog Devices (NASDAQ:ADI) PT Raised to $270.00 at TD Cowen

Analog Devices (NASDAQ:ADI) had its price target increased by TD Cowen from $210.00 to $270.00 in a research report released on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

ADI has been the subject of several other research reports. Bank of America upped their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the company a buy rating in a research note on Thursday. Truist Financial dropped their price target on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Jefferies Financial Group began coverage on shares of Analog Devices in a research note on Monday, May 13th. They issued a buy rating and a $250.00 price target for the company. KeyCorp increased their price target on shares of Analog Devices from $230.00 to $285.00 and gave the company an overweight rating in a research note on Thursday. Finally, Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $243.23.

Analog Devices Stock Down 0.9 %

Shares of NASDAQ ADI opened at $232.51 on Thursday. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88. The stock has a market cap of $115.38 billion, a PE ratio of 54.32, a P/E/G ratio of 5.77 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $200.67 and a 200 day moving average of $193.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.83 EPS. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices will post 6.16 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The sale 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 business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADI. Pinnacle Bancorp Inc. grew its position in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. USA Financial Formulas grew its position in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Analog Devices during the 3rd quarter worth $29,000. Cetera Trust Company N.A purchased a new position in Analog Devices during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Analog Devices during the 4th quarter worth $29,000. 86.81% of the stock is 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.