Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $249.33

Analog Devices, Inc. (NASDAQ:ADI) has been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $249.48.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial upped their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday. Finally, TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th.

Analog Devices Trading Down 3.7 %

Shares of NASDAQ:ADI opened at $212.37 on Wednesday. The business has a 50-day moving average price of $216.48 and a 200-day moving average price of $222.88. The stock has a market cap of $105.40 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 2.47 and a beta of 1.05. Analog Devices has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.01 earnings per share. Equities analysts predict that Analog Devices will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently bought and sold shares of ADI. Graypoint LLC lifted its stake in Analog Devices by 4.3% in the fourth quarter. Graypoint LLC now owns 5,067 shares of the semiconductor company’s stock valued at $1,077,000 after buying an additional 209 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Analog Devices by 20.2% in the 4th quarter. Bruce G. Allen Investments LLC now owns 697 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 117 shares during the period. ST Germain D J Co. Inc. raised its position in Analog Devices by 25.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 6,361 shares of the semiconductor company’s stock valued at $1,351,000 after purchasing an additional 1,274 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Analog Devices by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 271,965 shares of the semiconductor company’s stock worth $62,599,000 after purchasing an additional 1,055 shares during the period. Finally, Fulton Bank N.A. boosted its stake in Analog Devices by 3.1% during the 4th quarter. Fulton Bank N.A. now owns 1,996 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 60 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

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.