Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $287.22

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned an average rating of “Moderate Buy” from the thirty-three brokerages that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $287.2174.

A number of brokerages have commented on ADI. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price target on shares of Analog Devices in a research report on Tuesday, December 16th. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Benchmark reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Finally, Robert W. Baird lifted their target price on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th.

Analog Devices Stock Down 0.3%

Shares of ADI opened at $274.82 on Wednesday. The stock has a market capitalization of $134.57 billion, a price-to-earnings ratio of 60.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. Analog Devices has a 1 year low of $158.65 and a 1 year high of $284.23. The business’s 50 day simple moving average is $255.18 and its 200-day simple moving average is $245.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s payout ratio is 86.84%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the sale, the chief executive officer owned 163,640 shares in the company, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Martin Cotter sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the transaction, the senior vice president owned 59,664 shares in the company, valued at $16,180,280.16. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,419 shares of company stock valued at $7,811,917. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently modified their holdings of ADI. Quent Capital LLC grew its position in Analog Devices by 2.4% in the 3rd quarter. Quent Capital LLC now owns 1,810 shares of the semiconductor company’s stock valued at $445,000 after acquiring an additional 42 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 43 shares during the period. Carson Advisory Inc. grew its holdings in shares of Analog Devices by 3.1% in the third quarter. Carson Advisory Inc. now owns 1,441 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 43 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Analog Devices by 2.5% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock worth $441,000 after buying an additional 44 shares during the period. Finally, Klingman & Associates LLC lifted its holdings in Analog Devices by 3.7% during the 3rd quarter. Klingman & Associates LLC now owns 1,274 shares of the semiconductor company’s stock valued at $313,000 after buying an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.