Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) PT at $249.33

Analog Devices, Inc. (NASDAQ:ADI) has received an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $249.48.

A number of research firms recently weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, TD Cowen reduced 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 note on Wednesday, November 27th.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock valued at $11,029,300. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Hedge funds have recently made changes to their positions in the stock. Raymond James & Associates lifted its stake in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. raised its holdings in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after acquiring an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $212.37 on Wednesday. The stock has a market cap of $105.40 billion, a PE ratio of 64.55, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. Analog Devices has a 52-week low of $182.57 and a 52-week high of $244.14. The business has a 50-day simple moving average of $216.48 and a 200-day simple moving average of $222.97. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. On average, equities analysts expect that Analog Devices will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

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.