UBS Group Issues Pessimistic Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective trimmed by UBS Group from $300.00 to $295.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also weighed in on the company. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Barclays reduced their price target on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus reduced their target price on shares of Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $250.20.

Analog Devices Stock Performance

NASDAQ ADI opened at $226.82 on Monday. The business’s 50 day moving average price is $196.01 and its 200-day moving average price is $210.63. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a market cap of $112.50 billion, a P/E ratio of 72.24, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. Sell-side analysts predict that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Analog Devices

Several hedge funds have recently made changes to their positions in ADI. Norges Bank purchased a new position in shares of Analog Devices during the 4th quarter worth $1,755,958,000. Raymond James Financial Inc. purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $833,386,000. Proficio Capital Partners LLC lifted its holdings in shares of Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after acquiring an additional 3,059,349 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after acquiring an additional 2,407,460 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock valued at $446,037,000 after purchasing an additional 2,203,062 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.