Analog Devices, Inc. (ADI) Price Target Increased to $100.00 by Analysts at Jefferies Group LLC
Analog Devices, Inc. (NASDAQ:ADI) had its target price increased by stock analysts at Jefferies Group LLC to $100.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 20.11% from the stock’s previous close.
ADI has been the subject of a number of other research reports. Credit Suisse Group AG started coverage on shares of Analog Devices in a research report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 price objective for the company. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, February 15th. B. Riley restated a “buy” rating and set a $87.00 price objective on shares of Analog Devices in a research report on Wednesday, November 23rd. Wells Fargo & Co downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 16th. Finally, Royal Bank of Canada upped their price objective on shares of Analog Devices from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $83.28.
Analog Devices (NASDAQ:ADI) traded down 0.11% during trading on Monday, reaching $83.17. 815,122 shares of the company were exchanged. The firm has a market capitalization of $25.72 billion, a PE ratio of 28.37 and a beta of 1.19. Analog Devices has a 12 month low of $52.17 and a 12 month high of $84.24. The stock 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 released its quarterly earnings results on Wednesday, February 15th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The firm earned $984 million during the quarter, compared to the consensus estimate of $871.58 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Analog Devices’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, analysts expect that Analog Devices will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Friday, February 24th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.16%. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, February 22nd. Analog Devices’s dividend payout ratio is presently 60.87%.
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In other Analog Devices news, Director James Champy sold 1,850 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $83.23, for a total transaction of $153,975.50. Following the sale, the director now directly owns 15,185 shares of the company’s stock, valued at approximately $1,263,847.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 259,481 shares in the company, valued at $21,612,172.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,010 shares of company stock worth $9,502,046. 1.10% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ADI. JPMorgan Chase & Co. raised its position in Analog Devices by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 13,513,568 shares of the company’s stock valued at $870,948,000 after buying an additional 3,872,491 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Analog Devices by 34.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,122,821 shares of the company’s stock valued at $652,416,000 after buying an additional 2,617,935 shares during the last quarter. Norges Bank acquired a new position in Analog Devices during the fourth quarter valued at approximately $186,510,000. FMR LLC raised its position in Analog Devices by 48.1% in the fourth quarter. FMR LLC now owns 5,095,746 shares of the company’s stock valued at $370,053,000 after buying an additional 1,653,882 shares during the last quarter. Finally, Fiera Capital Corp raised its position in Analog Devices by 8,570.1% in the fourth quarter. Fiera Capital Corp now owns 1,067,376 shares of the company’s stock valued at $77,513,000 after buying an additional 1,055,065 shares during the last quarter. 90.38% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Company Profile
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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