Analog Devices (NASDAQ:ADI) Sets New 12-Month High After Analyst Upgrade

Analog Devices, Inc. (NASDAQ:ADI)’s stock price reached a new 52-week high on Thursday after Susquehanna raised their price target on the stock from $350.00 to $360.00. Susquehanna currently has a positive rating on the stock. Analog Devices traded as high as $313.19 and last traded at $310.3180, with a volume of 759533 shares trading hands. The stock had previously closed at $304.97.

A number of other research analysts have also recently commented on ADI. Robert W. Baird boosted their price objective on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Truist Financial upped their price objective on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research note on Friday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a research report on Tuesday, December 16th. Stifel Nicolaus increased their price objective on shares of Analog Devices from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Bank of America lifted their target price on Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total value of $928,968.75. Following the completion of the transaction, the director owned 130,071 shares in the company, valued at $38,666,206.17. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 over the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Trading of Analog Devices

A number of hedge funds have recently modified their holdings of the business. Howard Hughes Medical Institute purchased a new stake in Analog Devices in the 2nd quarter worth about $25,000. RMG Wealth Management LLC bought a new stake in Analog Devices during the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new stake in shares of Analog Devices in the third quarter worth $31,000. Y.D. More Investments Ltd bought a new position in shares of Analog Devices during the 3rd quarter worth about $32,000. Finally, LFA Lugano Financial Advisors SA increased its stake in Analog Devices by 92.9% during the third quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

The firm has a fifty day simple moving average of $274.55 and a 200 day simple moving average of $251.60. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The stock has a market cap of $151.07 billion, a price-to-earnings ratio of 67.66, a PEG ratio of 1.65 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is presently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.