Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Target Price at $255.41

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $255.41.

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. UBS Group lifted their price target on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th.

Analog Devices Stock Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Monday. The business’s 50 day simple moving average is $216.51 and its two-hundred day simple moving average is $219.52. Analog Devices has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a market cap of $99.97 billion, a P/E ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, research analysts forecast that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Fire Capital Management LLC purchased a new stake in shares of Analog Devices in the 4th quarter worth $352,000. Wellington Management Group LLP grew its holdings in Analog Devices by 67.7% during the fourth quarter. Wellington Management Group LLP now owns 72,698 shares of the semiconductor company’s stock valued at $15,445,000 after purchasing an additional 29,349 shares during the period. 111 Capital purchased a new stake in Analog Devices in the fourth quarter worth about $550,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Analog Devices by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 275,604 shares of the semiconductor company’s stock worth $58,555,000 after buying an additional 4,694 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Analog Devices by 1.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 107,201 shares of the semiconductor company’s stock valued at $22,776,000 after acquiring an additional 1,353 shares during the period. 86.81% of the stock is currently owned by hedge funds and other 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.