Susquehanna Raises Analog Devices (NASDAQ:ADI) Price Target to $280.00

Analog Devices (NASDAQ:ADI) had its target price upped by Susquehanna from $230.00 to $280.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the stock. TD Cowen boosted their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the stock a buy rating in a research note on Thursday. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an outperform rating and a $254.00 target price for the company. Barclays upped their target price on shares of Analog Devices from $185.00 to $210.00 and gave the company an equal weight rating in a research note on Monday, May 20th. Sanford C. Bernstein boosted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a market perform rating in a report on Thursday. Finally, Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $243.23.

Analog Devices Price Performance

NASDAQ ADI opened at $232.51 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.38 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 5.77 and a beta of 1.14. The company has a 50 day moving average price of $200.67 and a two-hundred day moving average price of $193.84. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company earned $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, equities analysts predict that Analog Devices will post 6.16 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were 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 in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Large investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. increased its stake in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas grew its stake in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Analog Devices during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in shares of Analog Devices during the 4th quarter worth approximately $29,000. Finally, Riverview Trust Co bought a new position in shares of Analog Devices during the 1st quarter worth approximately $30,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Company Profile

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.