TD Cowen Cuts Analog Devices (NASDAQ:ADI) Price Target to $260.00

Analog Devices (NASDAQ:ADI) had its target price decreased by TD Cowen from $270.00 to $260.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on ADI. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Up 0.4 %

NASDAQ ADI opened at $218.05 on Wednesday. Analog Devices has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The business has a fifty day moving average price of $224.14 and a two-hundred day moving average price of $225.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. The stock has a market capitalization of $108.22 billion, a PE ratio of 66.28, a PEG ratio of 3.35 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,883,200 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several large investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter worth about $29,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% in 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 period. ORG Partners LLC grew its stake in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC grew its position in shares of 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 in 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.