Analog Devices Inc. (ADI) Earns Outperform Rating from RBC Capital Markets
Several other equities research analysts have also weighed in on ADI. B. Riley reiterated a buy rating and issued a $73.00 target price on shares of Analog Devices in a report on Monday, August 1st. Citigroup Inc. cut their target price on shares of Analog Devices from $68.00 to $66.00 and set a neutral rating on the stock in a report on Thursday, August 18th. Zacks Investment Research lowered shares of Analog Devices from a buy rating to a hold rating in a report on Friday, August 5th. Bank of America Corp. upgraded shares of Analog Devices from a neutral rating to a buy rating and increased their target price for the stock from $72.89 to $85.00 in a report on Wednesday, November 23rd. Finally, Jefferies Group reiterated a buy rating and issued a $84.00 target price on shares of Analog Devices in a report on Thursday, August 18th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $73.97.
Shares of Analog Devices (NASDAQ:ADI) opened at 74.24 on Friday. Analog Devices has a 1-year low of $47.24 and a 1-year high of $74.87. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of 26.90 and a beta of 1.18. The company has a 50 day moving average of $65.32 and a 200 day moving average of $61.66.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.16. The company had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, equities analysts forecast that Analog Devices will post $3.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, December 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, November 30th. Analog Devices’s dividend payout ratio is currently 60.87%.
In related news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $62.91, for a total transaction of $629,100.00. Following the sale, the senior vice president now directly owns 10,064 shares of the company’s stock, valued at approximately $633,126.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $74.53, for a total transaction of $1,863,250.00. Following the sale, the director now directly owns 257,631 shares in the company, valued at $19,201,238.43. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. bought a new stake in shares of Analog Devices during the third quarter valued at about $7,895,000. Peddock Capital Advisors LLC bought a new stake in shares of Analog Devices during the third quarter valued at about $101,000. Evercore Wealth Management LLC raised its stake in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the period. Penserra Capital Management LLC raised its stake in shares of Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock valued at $123,000 after buying an additional 938 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Analog Devices by 16.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,079 shares of the company’s stock valued at $118,000 after buying an additional 300 shares during the period. 87.96% of the stock is currently owned by institutional investors.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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