Analog Devices Inc. (ADI) Given “Buy” Rating at BMO Capital Markets
A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $58.00 to $70.00 and gave the stock a neutral rating in a research note on Wednesday, July 27th. Wells Fargo & Co. restated a buy rating on shares of Analog Devices in a research report on Thursday, August 18th. Morgan Stanley restated a buy rating and set a $78.00 target price on shares of Analog Devices in a research report on Thursday, August 18th. Pacific Crest restated a buy rating on shares of Analog Devices in a research report on Sunday, September 11th. Finally, Zacks Investment Research upgraded shares of Analog Devices from a hold rating to a buy rating and set a $72.00 target price on the stock in a research report on Wednesday, October 5th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $71.32.
Shares of Analog Devices (NASDAQ:ADI) traded up 5.4285% during mid-day trading on Monday, reaching $73.6102. The company’s stock had a trading volume of 2,349,229 shares. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 34.7710 and a beta of 1.18. Analog Devices has a 1-year low of $47.24 and a 1-year high of $74.87. The firm’s 50 day moving average price is $64.27 and its 200-day moving average price is $61.09.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.16. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business earned $1 million during the quarter, compared to analysts’ expectations of $941.92 million. During the same period last year, the company posted $1.03 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Analog Devices will post $2.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.41%. Analog Devices’s dividend payout ratio is currently 79.62%.
In related news, Director John C. Hodgson sold 7,500 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total transaction of $483,150.00. Following the transaction, the director now owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rick D. Hess sold 6,000 shares of Analog Devices stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $62.63, for a total transaction of $375,780.00. Following the transaction, the senior vice president now directly owns 30,495 shares in the company, valued at approximately $1,909,901.85. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Analog Devices by 34.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,122,821 shares of the company’s stock valued at $652,416,000 after buying an additional 2,617,935 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Analog Devices during the third quarter valued at approximately $263,000. Water Island Capital LLC bought a new stake in shares of Analog Devices during the third quarter valued at approximately $434,000. Fayerweather Charles bought a new stake in shares of Analog Devices during the third quarter valued at approximately $214,000. Finally, Somerville Kurt F bought a new stake in shares of Analog Devices during the third quarter valued at approximately $1,174,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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