Investment analysts at KeyCorp assumed coverage on shares of Analog Devices (NASDAQ:ADI) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “sector weight” rating on the semiconductor company’s stock.
A number of other brokerages have also weighed in on ADI. Oppenheimer boosted their price objective on shares of Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, May 30th. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. B. Riley lowered their price objective on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 31st. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 31st. Finally, Deutsche Bank boosted their price objective on shares of Analog Devices from $87.00 to $93.00 and gave the stock a “hold” rating in a report on Thursday, May 31st. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $107.00.
ADI stock opened at $92.32 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16. Analog Devices has a one year low of $80.95 and a one year high of $103.59. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.27 and a beta of 1.18.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. equities research analysts forecast that Analog Devices will post 5.89 earnings per share for the current fiscal year.
Analog Devices announced that its board has approved a share buyback plan on Tuesday, August 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $95.04, for a total transaction of $950,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Hassett sold 12,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $100.40, for a total transaction of $1,204,800.00. Following the sale, the senior vice president now owns 26,711 shares of the company’s stock, valued at $2,681,784.40. The disclosure for this sale can be found here. Insiders have sold a total of 99,155 shares of company stock valued at $9,706,583 over the last quarter. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Washington Trust Bank raised its holdings in Analog Devices by 127.7% in the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares in the last quarter. Fort L.P. bought a new position in Analog Devices in the 2nd quarter worth $117,000. Integrated Investment Consultants LLC bought a new position in Analog Devices in the 2nd quarter worth $130,000. Clarus Wealth Advisors bought a new position in Analog Devices in the 2nd quarter worth $139,000. Finally, Gables Capital Management Inc. bought a new position in Analog Devices in the 1st quarter worth $173,000. Institutional investors and hedge funds own 88.02% of the company’s stock.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
See Also: Do Tariffs Work?
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.