Analog Devices (NASDAQ:ADI) Price Target Increased to $245.00 by Analysts at Oppenheimer

Analog Devices (NASDAQ:ADI) had its target price boosted by Oppenheimer from $215.00 to $245.00 in a research report report published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of Analog Devices from a peer perform rating to an outperform rating and set a $225.00 target price on the stock in a report on Thursday, January 18th. Jefferies Financial Group began coverage on Analog Devices in a research report on Monday. They set a buy rating and a $250.00 price target for the company. Truist Financial cut their price objective on Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They set an outperform rating and a $254.00 target price for the company. Finally, Cantor Fitzgerald lifted their price target on shares of Analog Devices from $205.00 to $240.00 and gave the company a neutral rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $212.63.

Analog Devices Stock Performance

ADI traded down $0.04 during midday trading on Thursday, reaching $214.08. The company had a trading volume of 2,371,667 shares, compared to its average volume of 3,291,626. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market cap of $106.16 billion, a PE ratio of 38.30, a P/E/G ratio of 5.42 and a beta of 1.14. Analog Devices has a 12-month low of $154.99 and a 12-month high of $216.00. The business has a 50-day moving average price of $197.19 and a two-hundred day moving average price of $190.82.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. On average, sell-side analysts expect that Analog Devices will post 5.85 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last ninety days. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. raised its stake in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. USA Financial Formulas lifted its stake in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices in the third quarter worth $29,000. Cetera Trust Company N.A purchased a new position in shares of Analog Devices during the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.