Analog Devices (NASDAQ:ADI) Price Target Lowered to $227.00 at Truist Financial

Analog Devices (NASDAQ:ADI) had its price objective cut by Truist Financial from $233.00 to $227.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday. Finally, Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Trading Down 0.9 %

NASDAQ ADI opened at $217.17 on Wednesday. The business’s fifty day moving average is $224.64 and its 200-day moving average is $225.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. Analog Devices has a one year low of $179.63 and a one year high of $244.14.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s payout ratio is presently 110.51%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter valued at $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.