Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, UBS Group Analyst Says

Analog Devices (NASDAQ:ADI) had its price objective upped by UBS Group from $275.00 to $300.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Truist Financial boosted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $255.19.

Analog Devices Trading Up 0.9 %

Analog Devices stock opened at $243.82 on Thursday. Analog Devices has a one year low of $182.57 and a one year high of $247.10. The company’s fifty day moving average price is $215.06 and its two-hundred day moving average price is $219.97. The company has a market capitalization of $120.96 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts forecast that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth about $28,000. Orion Capital Management LLC bought a new stake in Analog Devices during the fourth quarter worth about $27,000. Hopwood Financial Services Inc. bought a new stake in Analog Devices during the fourth quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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.