Analog Devices (NASDAQ:ADI) Coverage Initiated at Evercore ISI

Evercore ISI started coverage on shares of Analog Devices (NASDAQ:ADI) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $254.00 price target on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Edward Jones raised Analog Devices from a hold rating to a buy rating in a research report on Friday, December 22nd. Cantor Fitzgerald restated a neutral rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. KeyCorp upped their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Barclays raised their price target on shares of Analog Devices from $180.00 to $185.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. Finally, Morgan Stanley restated an overweight rating and set a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $208.17.

Analog Devices Stock Down 2.2 %

NASDAQ:ADI opened at $183.36 on Tuesday. The business’s fifty day moving average price is $192.82 and its 200 day moving average price is $186.53. The firm has a market capitalization of $90.93 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.75 and a beta of 1.17. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices has a 1-year low of $154.99 and a 1-year high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $2.75 EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Analog Devices by 1.2% in the 1st quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after buying an additional 238,249 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after acquiring an additional 1,197,215 shares in the last quarter. Invesco Ltd. raised its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,833,640 shares of the semiconductor company’s stock valued at $1,356,888,000 after purchasing an additional 1,640,156 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $1,040,194,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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.