SunTrust Banks, Inc. reaffirmed their buy rating on shares of Analog Devices, Inc. (NASDAQ:ADI) in a report issued on Thursday. They currently have a $106.00 target price on the semiconductor company’s stock.
A number of other research firms have also recently commented on ADI. BidaskClub upgraded Analog Devices from a hold rating to a buy rating in a research note on Saturday, October 7th. Zacks Investment Research upgraded Analog Devices from a hold rating to a buy rating and set a $98.00 price target for the company in a research note on Tuesday. Morgan Stanley reiterated an overweight rating and issued a $98.00 price target on shares of Analog Devices in a research note on Wednesday, September 20th. Stifel Nicolaus reiterated a buy rating and issued a $97.00 price target on shares of Analog Devices in a research note on Monday, September 25th. Finally, B. Riley reiterated a buy rating and issued a $110.00 price target on shares of Analog Devices in a research note on Saturday, September 2nd. Eleven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $92.85.
Analog Devices (ADI) traded up 0.26% during trading on Thursday, hitting $89.06. The stock had a trading volume of 2,230,266 shares. The stock’s 50-day moving average is $84.11 and its 200-day moving average is $80.60. The stock has a market capitalization of $32.74 billion, a PE ratio of 44.33 and a beta of 1.30. Analog Devices has a 52-week low of $60.97 and a 52-week high of $90.49.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 64.9% compared to the same quarter last year. On average, analysts predict that Analog Devices will post $4.62 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Analog Devices, Inc. (ADI) Given “Buy” Rating at SunTrust Banks, Inc.” was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://transcriptdaily.com/2017/10/13/analog-devices-inc-adi-given-buy-rating-at-suntrust-banks-inc.html.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, September 7th. Analog Devices’s dividend payout ratio is presently 86.12%.
In related news, SVP Gregory N. Henderson sold 6,396 shares of Analog Devices stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the transaction, the senior vice president now owns 10,327 shares in the company, valued at $870,979.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the transaction, the director now owns 234,481 shares in the company, valued at approximately $19,579,163.50. The disclosure for this sale can be found here. Insiders sold 126,494 shares of company stock worth $10,677,931 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of ADI. Crow Point Partners LLC purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $140,000. Beacon Financial Group purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $831,000. Eqis Capital Management Inc. purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $422,000. Intl Fcstone Inc. purchased a new stake in shares of Analog Devices in the 2nd quarter valued at $205,000. Finally, Achmea Investment Management B.V. raised its holdings in shares of Analog Devices by 17.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 33,887 shares of the semiconductor company’s stock valued at $2,634,000 after buying an additional 5,058 shares during the period. Institutional investors own 86.67% of the company’s stock.
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.
Receive News & Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.