Evercore ISI Begins Coverage on Analog Devices (NASDAQ:ADI)

Evercore ISI started coverage on shares of Analog Devices (NASDAQ:ADI) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $254.00 target price on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on ADI. Barclays raised their price target on shares of Analog Devices from $180.00 to $185.00 and gave the company an equal weight rating in a research note on Tuesday, January 16th. Wolfe Research upgraded shares of Analog Devices from a peer perform rating to an outperform rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. KeyCorp raised their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Morgan Stanley restated an overweight rating and issued a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Truist Financial reduced their price target on shares of Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $208.17.

Analog Devices Price Performance

ADI stock opened at $191.23 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices has a 12 month low of $154.99 and a 12 month high of $204.20. The firm has a market cap of $94.83 billion, a P/E ratio of 34.21, a P/E/G ratio of 4.82 and a beta of 1.17. The company’s 50-day moving average price is $193.23 and its two-hundred day moving average price is $186.44.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm earned $2.75 EPS. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, analysts anticipate that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.92%. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Hedge funds have recently modified their holdings of the stock. CTC Alternative Strategies Ltd. bought a new stake in shares of Analog Devices in the 4th quarter valued at $1,152,000. Sequoia Financial Advisors LLC increased its stake in shares of Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after acquiring an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Analog Devices by 31.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after purchasing an additional 89,504 shares in the last quarter. Finally, L. Roy Papp & Associates LLP increased its stake in Analog Devices by 2.0% during the 4th quarter. L. Roy Papp & Associates LLP now owns 37,339 shares of the semiconductor company’s stock valued at $7,414,000 after purchasing an additional 717 shares in the last quarter. 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.