MKM Partners Boosts Analog Devices Inc. (ADI) Price Target to $76.00
Analog Devices Inc. (NASDAQ:ADI) had its target price boosted by stock analysts at MKM Partners from $67.00 to $76.00 in a research report issued on Wednesday. The firm currently has a “neutral” rating on the stock. MKM Partners’ price objective would indicate a potential upside of 3.27% from the stock’s current price.
ADI has been the topic of a number of other reports. B. Riley restated a “buy” rating and set a $80.00 price objective on shares of Analog Devices in a report on Thursday, October 27th. Evercore ISI upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, July 27th. Stifel Nicolaus lifted their price target on shares of Analog Devices from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Finally, assumed coverage on shares of Analog Devices in a research note on Wednesday, October 19th. They issued an “outperform” rating and a $72.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.97.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.96% on Wednesday, hitting $73.59. The company’s stock 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. Analog Devices has a 52 week low of $47.24 and a 52 week high of $74.11. The stock’s 50 day moving average price is $64.27 and its 200 day moving average price is $61.13.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $1 million for the quarter, compared to analysts’ expectations of $941.92 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, analysts forecast that Analog Devices will post $3.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, December 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, November 30th. Analog Devices’s dividend payout ratio (DPR) is currently 79.62%.
In other Analog Devices news, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $62.63, for a total value of $375,780.00. Following the completion of the transaction, the senior vice president now directly owns 30,495 shares in the company, valued at approximately $1,909,901.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $63.20, for a total transaction of $1,580,000.00. Following the completion of the transaction, the director now owns 257,631 shares of the company’s stock, valued at $16,282,279.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ADI. JPMorgan Chase & Co. raised its stake in Analog Devices by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 13,513,568 shares of the company’s stock worth $870,948,000 after buying an additional 3,872,491 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 in the last quarter. Capital International Investors raised its position in shares of Analog Devices by 187.5% in the second quarter. Capital International Investors now owns 3,793,500 shares of the company’s stock valued at $214,864,000 after buying an additional 2,473,800 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Analog Devices by 33.0% in the third quarter. First Eagle Investment Management LLC now owns 4,031,950 shares of the company’s stock valued at $259,859,000 after buying an additional 1,001,397 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Analog Devices by 58.1% in the third quarter. Ameriprise Financial Inc. now owns 2,141,684 shares of the company’s stock valued at $138,021,000 after buying an additional 786,774 shares in the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.
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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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