Analog Devices, Inc. (NASDAQ:ADI) Receives $255.41 Average Price Target from Analysts

Shares of Analog Devices, Inc. (NASDAQ:ADI) have received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $255.41.

ADI has been the topic of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Wells Fargo & Company increased their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company.

Analog Devices Stock Performance

ADI stock opened at $210.53 on Monday. The firm has a 50-day simple moving average of $216.98 and a two-hundred day simple moving average of $219.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices has a one year low of $182.57 and a one year high of $247.10. The firm has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. On average, equities analysts forecast that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has approved a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently made changes to their positions in ADI. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices in the fourth quarter worth about $460,000. Czech National Bank boosted its position in Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after acquiring an additional 6,566 shares during the last quarter. Synergy Asset Management LLC grew its stake in Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after acquiring an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Analog Devices during the 3rd quarter valued at about $20,194,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.