Analog Devices, Inc. (NASDAQ:ADI) Receives $249.80 Consensus PT from Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $249.80.

ADI has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several large investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares in the last quarter. SouthState Corp grew its position in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 50 shares during the period. Finally, Investment Partners LTD. increased its stake in Analog Devices by 2.9% during the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $227.73 on Monday. 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 business has a 50-day moving average of $222.68 and a 200-day moving average of $218.04. The stock has a market capitalization of $113.00 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 3.75 and a beta of 1.07. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 EPS. As a group, sell-side analysts predict that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.