Analog Devices, Inc. (NASDAQ:ADI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned a consensus rating of “Moderate Buy” from the thirty-three analysts that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $281.8696.

ADI has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler set a $290.00 target price on Analog Devices in a research report on Tuesday. Stifel Nicolaus set a $280.00 price target on shares of Analog Devices in a research report on Friday, November 21st. Evercore ISI dropped their target price on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Bank of America increased their price target on Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday.

Analog Devices Price Performance

Analog Devices stock opened at $265.52 on Friday. The firm has a market cap of $130.62 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79. The stock’s fifty day moving average price is $239.64 and its two-hundred day moving average price is $236.21. Analog Devices has a one year low of $158.65 and a one year high of $265.75.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. As a group, research analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Insiders Place Their Bets

In other news, SVP Martin Cotter sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president owned 63,048 shares of the company’s stock, valued at $15,525,570. This trade represents a 16.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,750 shares of company stock valued at $9,598,496 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in ADI. Solstein Capital LLC increased its position in shares of Analog Devices by 2.0% during the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after purchasing an additional 46 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Analog Devices by 7.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock valued at $238,458,000 after buying an additional 71,735 shares during the period. Nisa Investment Advisors LLC grew its position in Analog Devices by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 203,286 shares of the semiconductor company’s stock valued at $48,386,000 after buying an additional 24,425 shares during the period. Bank of Montreal Can increased its holdings in Analog Devices by 88.2% during the second quarter. Bank of Montreal Can now owns 1,040,536 shares of the semiconductor company’s stock worth $247,668,000 after buying an additional 487,535 shares during the last quarter. Finally, Savvy Advisors Inc. bought a new stake in Analog Devices in the second quarter worth about $279,000. 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.