Analog Devices, Inc. (ADI) Lowered to Hold at ValuEngine
ValuEngine cut shares of Analog Devices, Inc. (NASDAQ:ADI) from a buy rating to a hold rating in a report issued on Thursday morning.
Several other equities research analysts have also issued reports on ADI. Credit Suisse Group reissued a buy rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Friday, May 26th. B. Riley reaffirmed a buy rating and set a $103.00 price target on shares of Analog Devices in a report on Tuesday, May 30th. Drexel Hamilton reaffirmed a buy rating and set a $105.00 price target (up from $93.00) on shares of Analog Devices in a report on Wednesday, May 31st. Royal Bank Of Canada raised their price target on shares of Analog Devices from $90.00 to $92.00 and gave the company an outperform rating in a report on Thursday, June 1st. Finally, Argus raised their price target on shares of Analog Devices from $86.00 to $92.00 and gave the company an outperform rating in a report on Thursday, June 1st. Thirteen research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has a consensus rating of Buy and a consensus target price of $91.92.
Analog Devices (NASDAQ ADI) opened at 84.92 on Thursday. The firm has a market cap of $31.22 billion, a P/E ratio of 42.27 and a beta of 1.29. Analog Devices has a 1-year low of $59.54 and a 1-year high of $90.49. The firm has a 50 day moving average of $80.41 and a 200 day moving average of $80.16.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. On average, equities research analysts expect that Analog Devices will post $4.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were given a $0.45 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. Analog Devices’s payout ratio is currently 86.12%.
In related news, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $80.35, for a total value of $241,050.00. Following the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,639,461.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Evans acquired 14,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the transaction, the director now owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 106,494 shares of company stock worth $8,920,681. 1.10% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Analog Devices by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock valued at $2,260,331,000 after purchasing an additional 847,762 shares during the last quarter. BlackRock Inc. lifted its position in Analog Devices by 6.2% in the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after purchasing an additional 1,437,338 shares during the last quarter. Wellington Management Group LLP lifted its position in Analog Devices by 14.4% in the 1st quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock valued at $1,514,372,000 after purchasing an additional 2,319,193 shares during the last quarter. State Street Corp lifted its position in Analog Devices by 20.0% in the 1st quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after purchasing an additional 2,493,568 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after purchasing an additional 3,248,336 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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