Analog Devices (NASDAQ:ADI) Now Covered by Analysts at Evercore ISI

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

ADI has been the subject of several other research reports. Edward Jones upgraded Analog Devices from a hold rating to a buy rating in a report on Friday, December 22nd. Morgan Stanley reissued an overweight rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Wolfe Research upgraded shares of Analog Devices from a peer perform rating to an outperform rating and set a $225.00 price objective on the stock in a report on Thursday, January 18th. Truist Financial dropped their price objective 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $208.17.

Analog Devices Trading Down 2.2 %

NASDAQ:ADI opened at $183.36 on Tuesday. The firm has a fifty day simple moving average of $192.82 and a two-hundred day simple moving average of $186.53. Analog Devices has a 12 month low of $154.99 and a 12 month high of $204.20. The stock has a market capitalization of $90.93 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.75 and a beta of 1.17. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last issued 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 return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $2.75 EPS. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. Analysts expect that Analog Devices will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is presently 65.83%.

Insider Activity

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. FORVIS Wealth Advisors LLC raised its stake in Analog Devices by 29.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,162 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 491 shares during the period. American National Bank & Trust Co. VA bought a new position in Analog Devices during the first quarter worth about $5,761,000. Oak Harvest Investment Services increased its stake in shares of Analog Devices by 1.1% in the first quarter. Oak Harvest Investment Services now owns 39,033 shares of the semiconductor company’s stock worth $7,720,000 after purchasing an additional 442 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Analog Devices by 1.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 5,293 shares of the semiconductor company’s stock valued at $1,047,000 after purchasing an additional 71 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in shares of Analog Devices by 4.7% in the first quarter. First Trust Direct Indexing L.P. now owns 13,748 shares of the semiconductor company’s stock valued at $2,719,000 after purchasing an additional 616 shares during the period. 86.81% of the stock is owned by 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.