Analog Devices Inc. (ADI) Stock Rating Reaffirmed by RBC Capital Markets
Analog Devices Inc. (NASDAQ:ADI)‘s stock had its “outperform” rating reiterated by RBC Capital Markets in a research report issued on Friday. They currently have a $75.00 price objective on the stock. RBC Capital Markets’ target price would indicate a potential upside of 1.08% from the stock’s previous close.
ADI has been the subject of a number of other research reports. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, October 5th. B. Riley reissued a “buy” rating and set a $80.00 price target on shares of Analog Devices in a research report on Tuesday, November 15th. Bank of America Corp. raised shares of Analog Devices from a “neutral” rating to a “buy” rating and increased their price target for the stock from $72.89 to $85.00 in a research report on Wednesday, November 23rd. KeyCorp increased their price target on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 23rd. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Analog Devices has an average rating of “Buy” and a consensus target price of $73.97.
Shares of Analog Devices (NASDAQ:ADI) opened at 74.16 on Friday. The company’s 50-day moving average is $65.32 and its 200-day moving average is $61.66. The company has a market cap of $22.80 billion, a price-to-earnings ratio of 35.03 and a beta of 1.18. Analog Devices has a one year low of $47.24 and a one year high of $74.87.
Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.16. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The business earned $1 million during the quarter, compared to analyst estimates of $941.92 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post $3.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be given 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 yield of 2.26%. Analog Devices’s dividend payout ratio (DPR) is 60.87%.
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In other Analog Devices news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $62.91, for a total value of $629,100.00. Following the completion of the sale, the senior vice president now owns 10,064 shares of the company’s stock, valued at $633,126.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Rick D. Hess sold 6,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 30,495 shares of the company’s stock, valued at approximately $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tdam USA Inc. increased its position in Analog Devices by 0.3% in the second quarter. Tdam USA Inc. now owns 9,028 shares of the company’s stock valued at $511,000 after buying an additional 23 shares during the period. World Asset Management Inc increased its position in Analog Devices by 0.3% in the second quarter. World Asset Management Inc now owns 30,251 shares of the company’s stock valued at $1,713,000 after buying an additional 77 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Analog Devices by 1.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,875 shares of the company’s stock valued at $401,000 after buying an additional 102 shares during the period. HL Financial Services LLC increased its position in Analog Devices by 1.0% in the second quarter. HL Financial Services LLC now owns 11,786 shares of the company’s stock valued at $667,000 after buying an additional 113 shares during the period. Finally, West Oak Capital LLC increased its position in Analog Devices by 0.5% in the second quarter. West Oak Capital LLC now owns 21,430 shares of the company’s stock valued at $1,214,000 after buying an additional 115 shares during the period. 87.96% of the stock is 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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