Analog Devices Inc. (NASDAQ:ADI) had its target price lifted by stock analysts at Deutsche Bank AG from $65.00 to $70.00 in a research note issued to investors on Wednesday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s target price points to a potential downside of 4.88% from the stock’s current price.

A number of other research analysts have also weighed in on ADI. B. Riley reaffirmed a “buy” rating and issued a $87.00 price target on shares of Analog Devices in a research note on Wednesday. Bank of America Corp. raised shares of Analog Devices from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.89 to $85.00 in a research note on Wednesday. Oppenheimer Holdings Inc. raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Wednesday, July 27th. Evercore ISI raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, July 27th. Finally, MKM Partners raised their target price on shares of Analog Devices from $56.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.97.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

Shares of Analog Devices (NASDAQ:ADI) traded up 0.96% during mid-day trading on Wednesday, reaching $73.59. The company had a trading volume of 5,922,995 shares. The stock has a market capitalization of $22.63 billion, a P/E ratio of 34.76 and a beta of 1.18. The firm has a 50 day moving average of $64.27 and a 200-day moving average of $61.13. Analog Devices has a one year low of $47.24 and a one year high of $74.11.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.16. The firm had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. Analog Devices’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. Analysts forecast that Analog Devices will post $3.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, December 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.28%. Analog Devices’s payout ratio is 79.62%.

In other news, Director John C. Hodgson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the sale, the director now directly owns 18,485 shares of the company’s stock, valued at $1,190,803.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $62.63, for a total transaction of $375,780.00. Following the completion of the sale, the senior vice president now directly owns 30,495 shares of the company’s stock, valued at $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in ADI. Tdam USA Inc. raised its position in shares of Analog Devices by 0.3% in the second quarter. Tdam USA Inc. now owns 9,028 shares of the company’s stock worth $511,000 after buying an additional 23 shares during the period. World Asset Management Inc raised its position in shares of Analog Devices by 0.3% in the second quarter. World Asset Management Inc now owns 30,251 shares of the company’s stock worth $1,713,000 after buying an additional 77 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Analog Devices by 1.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,875 shares of the company’s stock worth $401,000 after buying an additional 102 shares during the period. HL Financial Services LLC raised its position in shares of Analog Devices by 1.0% in the second quarter. HL Financial Services LLC now owns 11,786 shares of the company’s stock worth $667,000 after buying an additional 113 shares during the period. Finally, West Oak Capital LLC raised its position in shares of Analog Devices by 0.5% in the second quarter. West Oak Capital LLC now owns 21,430 shares of the company’s stock worth $1,214,000 after buying an additional 115 shares during the period. 86.33% of the stock is owned by institutional investors and hedge funds.

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About Analog Devices

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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