Analog Devices (NASDAQ:ADI) Given New $185.00 Price Target at Wells Fargo & Company

Analog Devices (NASDAQ:ADI – Get Rating) had its price objective trimmed by Wells Fargo & Company from $190.00 to $185.00 in a research report report published on Thursday, The Fly reports.

ADI has been the topic of several other research reports. Sanford C. Bernstein reduced their price target on shares of Analog Devices from $220.00 to $210.00 in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Analog Devices from $195.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, February 16th. Citigroup reduced their price target on shares of Analog Devices from $225.00 to $200.00 in a research report on Thursday. UBS Group raised their price target on shares of Analog Devices from $195.00 to $225.00 and gave the stock a buy rating in a research report on Thursday, February 16th. Finally, Bank of America raised their price target on shares of Analog Devices from $230.00 to $250.00 and gave the stock a buy rating in a research report on Tuesday, April 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $208.17.

Analog Devices Stock Performance

ADI opened at $172.39 on Thursday. The firm has a market cap of $87.20 billion, a P/E ratio of 26.00, a PEG ratio of 1.44 and a beta of 1.15. Analog Devices has a 1-year low of $133.48 and a 1-year high of $198.24. The company has a 50 day simple moving average of $186.11 and a two-hundred day simple moving average of $176.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. Analog Devices’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that Analog Devices will post 10.65 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. Analog Devices’s payout ratio is 51.89%.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at $4,464,115.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the completion of the transaction, the chief financial officer now directly owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,495 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Institutional Trading of Analog Devices

A number of institutional investors have recently modified their holdings of the company. Markel Corp boosted its holdings in Analog Devices by 1.4% in the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after acquiring an additional 15,150 shares during the period. Fairfield Bush & CO. acquired a new position in shares of Analog Devices in the 1st quarter valued at approximately $82,000. United Bank raised its position in shares of Analog Devices by 24.7% in the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Analog Devices by 34.7% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Analog Devices by 14.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock valued at $19,175,000 after purchasing an additional 14,718 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

About Analog Devices

(Get Rating)

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.