Analog Devices, Inc. (ADI) Given “Buy” Rating at SunTrust Banks, Inc.

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.

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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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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