Analog Devices, Inc. (ADI) Price Target Increased to $110.00 by Analysts at Jefferies Group LLC
Analog Devices, Inc. (NASDAQ:ADI) had its price target lifted by Jefferies Group LLC to $110.00 in a research report released on Wednesday. The firm currently has a buy rating on the semiconductor company’s stock. Jefferies Group also issued estimates for Analog Devices’ Q1 2018 earnings at $1.28 EPS, Q2 2018 earnings at $1.28 EPS, Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.36 EPS and FY2018 earnings at $5.19 EPS.
ADI has been the subject of several other reports. Drexel Hamilton reaffirmed a buy rating and set a $105.00 target price on shares of Analog Devices in a research note on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $100.00 target price on shares of Analog Devices in a research note on Friday, November 17th. B. Riley raised their target price on shares of Analog Devices from $110.00 to $113.00 and gave the company a buy rating in a research note on Wednesday. BidaskClub cut shares of Analog Devices from a buy rating to a hold rating in a research note on Friday, November 10th. Finally, Stifel Nicolaus raised their target price on shares of Analog Devices from $97.00 to $98.00 and gave the company a buy rating in a research note on Thursday, November 16th. Twelve 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’s stock. The company presently has a consensus rating of Buy and a consensus price target of $94.19.
Analog Devices (NASDAQ ADI) traded down $1.54 on Wednesday, reaching $88.65. 4,028,500 shares of the company’s stock traded hands, compared to its average volume of 2,961,242. The company has a quick ratio of 1.52, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. Analog Devices has a fifty-two week low of $68.42 and a fifty-two week high of $93.99. The company has a market capitalization of $33,159.95, a P/E ratio of 19.27, a PEG ratio of 1.75 and a beta of 1.32.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The company’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. research analysts expect that Analog Devices will post 4.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. Analog Devices’s dividend payout ratio is currently 86.96%.
In other news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total value of $369,995.65. Following the transaction, the senior vice president now owns 13,531 shares of the company’s stock, valued at approximately $1,111,301.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the transaction, the director now directly owns 234,481 shares in the company, valued at approximately $19,579,163.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,994 shares of company stock valued at $11,370,618. Company insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of ADI. Quantitative Systematic Strategies LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $756,000. Riverbridge Partners LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $24,054,000. Sadoff Investment Management LLC grew its position in Analog Devices by 1.3% during the 2nd quarter. Sadoff Investment Management LLC now owns 285,083 shares of the semiconductor company’s stock worth $22,179,000 after purchasing an additional 3,751 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in Analog Devices during the 2nd quarter worth approximately $1,000,000. Finally, Russell Investments Group Ltd. grew its position in Analog Devices by 28.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 403,786 shares of the semiconductor company’s stock worth $31,424,000 after purchasing an additional 89,419 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other 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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