Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $249.80

Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $249.80.

A number of research firms have recently commented on ADI. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th.

Analog Devices Trading Down 3.0 %

Shares of ADI stock opened at $223.11 on Friday. Analog Devices has a 1 year low of $155.16 and a 1 year high of $244.14. 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’s 50 day simple moving average is $227.24 and its two-hundred day simple moving average is $222.87. The company has a market cap of $110.77 billion, a PE ratio of 67.00, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.49 earnings per share. Research analysts predict that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,495 shares of company stock worth $18,513,858. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter worth $29,000. ORG Partners LLC grew its position in Analog Devices by 675.0% during the 2nd 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 period. CVA Family Office LLC grew 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 worth $36,000 after purchasing an additional 45 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter worth about $37,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Analog Devices during the 1st quarter worth about $40,000. 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.