Jefferies Group LLC Reaffirms Buy Rating for Analog Devices, Inc. (ADI)
Jefferies Group LLC reiterated their buy rating on shares of Analog Devices, Inc. (NASDAQ:ADI) in a research note issued to investors on Monday, May 22nd. The brokerage currently has a $100.00 price objective on the semiconductor company’s stock.
Several other research firms have also commented on ADI. BMO Capital Markets reaffirmed a buy rating and issued a $96.00 price target on shares of Analog Devices in a report on Friday, March 31st. Credit Suisse Group initiated coverage on shares of Analog Devices in a report on Tuesday, March 14th. They issued an outperform rating and a $100.00 price target for the company. Zacks Investment Research raised shares of Analog Devices from a hold rating to a buy rating and set a $87.00 price target for the company in a report on Wednesday, February 15th. Wells Fargo & Company lowered shares of Analog Devices from an outperform rating to a market perform rating in a report on Thursday, February 16th. Finally, Royal Bank of Canada lifted their price target on shares of Analog Devices from $80.00 to $85.00 and gave the company an outperform rating in a report on Monday, January 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $88.67.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.36% during midday trading on Monday, hitting $80.04. 5,700,640 shares of the stock were exchanged. The company has a market cap of $29.38 billion, a PE ratio of 30.65 and a beta of 1.27. Analog Devices has a 12-month low of $52.17 and a 12-month high of $90.49. The firm has a 50-day moving average price of $79.85 and a 200-day moving average price of $77.93.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 8.15% and a return on equity of 4.91%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was up 41.2% on a year-over-year basis. On average, equities analysts predict that Analog Devices will post $4.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 9th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.25%. Analog Devices’s payout ratio is currently 67.92%.
In related news, CEO Vincent Roche sold 47,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the sale, the chief executive officer now directly owns 61,484 shares in the company, valued at approximately $5,318,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total transaction of $244,620.00. Following the completion of the sale, the senior vice president now owns 20,404 shares in the company, valued at $1,663,742.16. The disclosure for this sale can be found here. Insiders sold a total of 115,426 shares of company stock worth $9,612,861 over the last quarter. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Analog Devices during the first quarter valued at $100,000. Jacobus Wealth Management Inc. purchased a new position in Analog Devices during the first quarter valued at $113,000. Heritage Trust Co purchased a new position in Analog Devices during the first quarter valued at $114,000. Parallel Advisors LLC purchased a new position in Analog Devices during the fourth quarter valued at $115,000. Finally, Guardian Life Insurance Co. of America increased its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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