Analog Devices, Inc. (ADI) Downgraded by BidaskClub to Hold
BidaskClub downgraded shares of Analog Devices, Inc. (NASDAQ:ADI) from a buy rating to a hold rating in a research note released on Saturday morning.
Several other research firms also recently issued reports on ADI. B. Riley restated a buy rating and issued a $103.00 price objective on shares of Analog Devices in a research note on Tuesday, May 30th. UBS AG restated a neutral rating and issued a $94.00 price objective (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. Jefferies Group LLC restated a buy rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Monday, May 22nd. Royal Bank Of Canada upped their price objective on shares of Analog Devices from $92.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, August 31st. Finally, Raymond James Financial, Inc. assumed coverage on shares of Analog Devices in a research note on Friday, June 16th. They issued a market perform rating for the company. Twelve analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $91.85.
Shares of Analog Devices (NASDAQ:ADI) traded down 0.81% on Friday, hitting $80.44. The stock had a trading volume of 2,695,414 shares. Analog Devices has a 12-month low of $59.01 and a 12-month high of $90.49. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 30.81 and a beta of 1.29. The stock has a 50 day moving average of $79.63 and a 200 day moving average of $80.15.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. Analog Devices’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. Equities analysts predict that Analog Devices will post $4.62 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders 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 yield of 2.24%. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $77.81, for a total value of $233,430.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,587,635.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joseph Hassett sold 11,280 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $83.76, for a total transaction of $944,812.80. Following the completion of the transaction, the senior vice president now directly owns 23,019 shares of the company’s stock, valued at $1,928,071.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,686 shares of company stock valued at $3,780,282. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ADI. Lazard Asset Management LLC purchased a new position in Analog Devices in the first quarter valued at about $100,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $113,000. Heritage Trust Co purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 223 shares in the last quarter. 86.87% of the stock is owned by institutional investors.
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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