Analog Devices (NASDAQ:ADI) Price Target Lowered to $235.00 at Citigroup

Analog Devices (NASDAQ:ADI) had its price objective reduced by Citigroup from $265.00 to $235.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on ADI. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $254.73.

Analog Devices Trading Up 0.4 %

NASDAQ:ADI opened at $179.16 on Friday. The business’s 50-day moving average is $208.90 and its two-hundred day moving average is $216.04. The firm has a market capitalization of $88.86 billion, a PE ratio of 57.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 earnings per share. Research analysts predict that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.21%. Analog Devices’s payout ratio is presently 126.11%.

Insiders Place Their Bets

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,684 shares of company stock valued at $5,591,600 in the last three months. Insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

A number of hedge funds have recently bought and sold shares of ADI. Radnor Capital Management LLC lifted its stake in Analog Devices by 8.4% during the first quarter. Radnor Capital Management LLC now owns 1,420 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 110 shares during the period. Impact Capital Partners LLC increased its holdings in shares of Analog Devices by 2.9% during the first quarter. Impact Capital Partners LLC now owns 11,919 shares of the semiconductor company’s stock worth $2,404,000 after buying an additional 336 shares in the last quarter. Sovereign Financial Group Inc. raised its position in Analog Devices by 5.9% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,626 shares of the semiconductor company’s stock valued at $328,000 after purchasing an additional 90 shares during the last quarter. McNamara Financial Services Inc. bought a new position in shares of Analog Devices in the first quarter valued at about $257,000. Finally, Curat Global LLC bought a new position in shares of Analog Devices in the first quarter worth about $610,000. 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.