Analog Devices (NASDAQ:ADI) Price Target Raised to $270.00

Analog Devices (NASDAQ:ADI) had its price target raised by Stifel Nicolaus from $248.00 to $270.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on the company. Keefe, Bruyette & Woods upgraded Analog Devices to an “outperform” rating in a research report on Wednesday, June 18th. Barclays increased their price objective on Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. Cantor Fitzgerald upgraded shares of Analog Devices from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Benchmark restated a “buy” rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, Cfra Research cut shares of Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

Analog Devices Stock Up 0.4%

Shares of NASDAQ ADI opened at $241.85 on Friday. Analog Devices has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $120.02 billion, a price-to-earnings ratio of 65.90, a PEG ratio of 2.23 and a beta of 1.02. The business has a 50-day moving average of $230.08 and a 200-day moving average of $214.71.

Analog Devices (NASDAQ:ADI) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS. Sell-side analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.64%. Analog Devices’s payout ratio is 107.90%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock worth $3,327,994. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth $27,000. Activest Wealth Management boosted its position in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices during the first quarter valued at $27,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Analog Devices during the first quarter valued at $33,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

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.