Analog Devices (NASDAQ:ADI) Price Target Increased to $220.00 by Analysts at Sanford C. Bernstein

Analog Devices (NASDAQ:ADI) had its price objective lifted by Sanford C. Bernstein from $200.00 to $220.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ADI. Cantor Fitzgerald increased their price target on Analog Devices from $205.00 to $240.00 and gave the stock a neutral rating in a research report on Wednesday, May 15th. The Goldman Sachs Group raised their target price on Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on Analog Devices from $220.00 to $260.00 and gave the company an overweight rating in a research report on Thursday. Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the company a buy rating in a research report on Thursday. Finally, Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $243.23.

Analog Devices Stock Down 0.9 %

Shares of Analog Devices stock opened at $232.51 on Thursday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $200.67 and its 200-day simple moving average is $193.66. The stock has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.82 and a beta of 1.14. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.83 EPS. Equities research analysts forecast that Analog Devices will post 5.93 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its position in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas boosted its position in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices in the third quarter worth $29,000. Cetera Trust Company N.A acquired a new stake in shares of Analog Devices in the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Analog Devices during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.