B. Riley Reiterates “Buy” Rating for Analog Devices (ADI)
B. Riley reiterated their buy rating on shares of Analog Devices (NASDAQ:ADI) in a research report report published on Wednesday morning, Marketbeat Ratings reports. B. Riley currently has a $122.00 price target on the semiconductor company’s stock, up from their previous price target of $113.00. B. Riley also issued estimates for Analog Devices’ Q2 2018 earnings at $1.36 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.58 EPS, FY2018 earnings at $5.84 EPS, Q1 2019 earnings at $1.38 EPS, Q2 2019 earnings at $1.48 EPS, Q3 2019 earnings at $1.60 EPS and FY2019 earnings at $6.17 EPS.
ADI has been the topic of several other research reports. Stifel Nicolaus raised their target price on shares of Analog Devices from $97.00 to $98.00 and gave the company a buy rating in a research note on Thursday, November 16th. BidaskClub raised shares of Analog Devices from a hold rating to a buy rating in a research note on Saturday, January 20th. Piper Jaffray Companies raised shares of Analog Devices from a neutral rating to an overweight rating and set a $92.00 price objective on the stock in a research note on Tuesday, February 13th. Oppenheimer reissued a buy rating and set a $100.00 price objective on shares of Analog Devices in a research note on Friday, November 17th. Finally, Drexel Hamilton reissued a buy rating and set a $105.00 price objective on shares of Analog Devices in a research note on Tuesday, November 21st. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $100.00.
Analog Devices (ADI) opened at $89.53 on Wednesday. The stock has a market cap of $33,830.00, a PE ratio of 263.32, a PEG ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.13. Analog Devices has a one year low of $74.65 and a one year high of $98.38.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.48 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, March 8th. Analog Devices’s dividend payout ratio (DPR) is 529.41%.
In other Analog Devices news, CEO Vincent Roche sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.17, for a total transaction of $8,517,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Margaret K. Seif sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $84.53, for a total transaction of $591,710.00. Following the sale, the senior vice president now owns 20,404 shares in the company, valued at $1,724,750.12. The disclosure for this sale can be found here. Insiders have sold a total of 174,618 shares of company stock worth $15,142,228 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Sit Investment Associates Inc. raised its holdings in shares of Analog Devices by 381.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 1,010 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $121,000. Cerebellum GP LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $130,000. Fieldpoint Private Securities LLC raised its holdings in shares of Analog Devices by 91.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 705 shares during the last quarter. Finally, Clear Perspective Advisors LLC raised its holdings in shares of Analog Devices by 3,884.2% in the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 1,476 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.
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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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