Analog Devices Inc. (ADI) PT Raised to $77.00
Analog Devices Inc. (NASDAQ:ADI) had its price target lifted by equities research analysts at Robert W. Baird to $77.00 in a research report issued to clients and investors on Wednesday. Robert W. Baird’s price target indicates a potential upside of 4.63% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. B. Riley restated a “buy” rating and set a $73.00 price target on shares of Analog Devices in a research report on Wednesday, July 27th. Citigroup Inc. downgraded Analog Devices from a “buy” rating to a “neutral” rating and raised their price target for the company from $60.00 to $68.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Barclays PLC raised their price target on Analog Devices from $55.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Pacific Crest raised their price target on Analog Devices from $60.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Finally, SunTrust Banks Inc. set a $80.00 price target on Analog Devices and gave the company a “buy” rating in a research report on Wednesday, July 27th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $73.97.
Shares of Analog Devices (NASDAQ:ADI) opened at 73.59 on Wednesday. Analog Devices has a 12 month low of $47.24 and a 12 month high of $74.87. The company’s 50 day moving average price is $64.77 and its 200 day moving average price is $61.30. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 34.76 and a beta of 1.18.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.16. The company earned $1 million during the quarter, compared to analyst estimates of $941.92 million. Analog Devices had a return on equity of 19.51% and a net margin of 25.18%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities analysts expect that Analog Devices will post $3.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, December 2nd will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. Analog Devices’s dividend payout ratio (DPR) is 60.87%.
In other news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $63.20, for a total value of $1,580,000.00. Following the completion of the sale, the director now directly owns 257,631 shares in the company, valued at approximately $16,282,279.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $62.63, for a total value of $375,780.00. Following the completion of the sale, the senior vice president now 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 owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Analog Devices by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 13,513,568 shares of the company’s stock valued at $870,948,000 after buying an additional 3,872,491 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 increased 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 increased 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. increased 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. 86.33% of the stock is owned by institutional investors.
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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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