Analog Devices, Inc. (ADI) Lifted to Neutral at Nomura
Nomura upgraded shares of Analog Devices, Inc. (NASDAQ:ADI) from a reduce rating to a neutral rating in a research report sent to investors on Thursday morning. Nomura currently has $80.00 price objective on the semiconductor company’s stock, up from their previous price objective of $72.50.
Several other research firms have also recently commented on ADI. Argus lifted their target price on Analog Devices from $86.00 to $92.00 and gave the company an outperform rating in a research note on Thursday, June 1st. Royal Bank Of Canada lifted their target price on Analog Devices from $90.00 to $92.00 and gave the company an outperform rating in a research note on Thursday, June 1st. Drexel Hamilton reissued a buy rating and issued a $105.00 target price (up from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley reissued a buy rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. Finally, Credit Suisse Group reissued a buy rating and issued a $100.00 target price on shares of Analog Devices in a research note on Friday, May 26th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $91.85.
Analog Devices (NASDAQ ADI) opened at 84.38 on Thursday. The company’s 50-day moving average price is $79.59 and its 200 day moving average price is $80.13. The company has a market cap of $30.97 billion, a PE ratio of 32.32 and a beta of 1.29. Analog Devices has a 52 week low of $59.01 and a 52 week high of $90.49.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. On average, analysts anticipate that Analog Devices will post $4.59 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. Analog Devices’s dividend payout ratio (DPR) is 86.12%.
In other news, Director Bruce R. Evans purchased 14,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the acquisition, the director now directly owns 67,540 shares in the company, valued at approximately $5,287,031.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Gregory N. Henderson sold 6,396 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.34, for a total value of $539,438.64. Following the completion of the sale, the senior vice president now owns 10,327 shares in the company, valued at $870,979.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,487 shares of company stock worth $1,992,008. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of ADI. Nationwide Fund Advisors raised its holdings in Analog Devices by 14.0% during the first quarter. Nationwide Fund Advisors now owns 153,484 shares of the semiconductor company’s stock worth $12,578,000 after acquiring an additional 18,794 shares in the last quarter. Waldron LP raised its holdings in Analog Devices by 40.9% during the first quarter. Waldron LP now owns 4,166 shares of the semiconductor company’s stock worth $341,000 after acquiring an additional 1,210 shares in the last quarter. Strs Ohio raised its holdings in Analog Devices by 83.6% during the first quarter. Strs Ohio now owns 8,063 shares of the semiconductor company’s stock worth $660,000 after acquiring an additional 3,671 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Analog Devices by 35.1% during the first quarter. Russell Investments Group Ltd. now owns 314,367 shares of the semiconductor company’s stock worth $25,781,000 after acquiring an additional 81,722 shares in the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp raised its holdings in Analog Devices by 7.1% during the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 10,791 shares of the semiconductor company’s stock worth $884,000 after acquiring an additional 714 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.
Analog Devices Company Profile
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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