Analog Devices’ (ADI) Buy Rating Reaffirmed at Royal Bank of Canada
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Analog Devices from a sell rating to a hold rating in a research note on Tuesday, February 7th. KeyCorp boosted their target price on Analog Devices from $77.00 to $84.00 and gave the stock an overweight rating in a research note on Wednesday, November 23rd. Vetr upgraded Analog Devices from a hold rating to a strong-buy rating and set a $85.00 target price on the stock in a research note on Wednesday, January 11th. Deutsche Bank AG boosted their target price on Analog Devices from $65.00 to $70.00 and gave the stock a hold rating in a research note on Wednesday, November 23rd. Finally, Robert W. Baird boosted their target price on Analog Devices from $70.00 to $77.00 and gave the stock an outperform rating in a research note on Wednesday, November 23rd. Seven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $83.28.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.08% during midday trading on Friday, reaching $83.33. The company had a trading volume of 750,967 shares. The firm has a market capitalization of $25.77 billion, a P/E ratio of 28.42 and a beta of 1.19. Analog Devices has a one year low of $52.17 and a one year high of $84.24. The company has a 50 day moving average price of $80.41 and a 200-day moving average price of $70.80.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 15th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The firm had revenue of $984 million for the quarter, compared to the consensus estimate of $871.58 million. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s revenue was up 27.9% compared to the same quarter last year. On average, analysts anticipate that Analog Devices will post $3.97 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Friday, February 24th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. Analog Devices’s dividend payout ratio is presently 60.87%.
In other news, Director James Champy sold 1,850 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $83.23, for a total value of $153,975.50. Following the transaction, the director now owns 15,185 shares of the company’s stock, valued at $1,263,847.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $83.29, for a total transaction of $4,164,500.00. Following the completion of the transaction, the director now directly owns 259,481 shares in the company, valued at approximately $21,612,172.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,010 shares of company stock worth $9,502,046. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Analog Devices during the fourth quarter valued at about $229,000. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at about $186,510,000. Sandler Capital Management bought a new position in shares of Analog Devices during the fourth quarter valued at about $3,624,000. Thrivent Financial for Lutherans raised its position in shares of Analog Devices by 51.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 407,560 shares of the company’s stock valued at $29,597,000 after buying an additional 139,270 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in shares of Analog Devices during the fourth quarter valued at about $281,000. 90.38% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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