Stifel Nicolaus Increases Analog Devices (NASDAQ:ADI) Price Target to $240.00

Analog Devices (NASDAQ:ADI) had its price objective raised by Stifel Nicolaus from $220.00 to $240.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp increased their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Evercore ISI started coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an outperform rating and a $254.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Jefferies Financial Group started coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a buy rating and a $250.00 price objective on the stock. Finally, Morgan Stanley restated an overweight rating and set a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of Moderate Buy and an average price target of $237.75.

Analog Devices Trading Down 2.3 %

NASDAQ:ADI opened at $234.56 on Monday. The company’s 50 day moving average price is $199.92 and its 200-day moving average price is $193.03. Analog Devices has a 52 week low of $154.99 and a 52 week high of $241.88. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $116.32 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 5.44 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the company posted $2.83 earnings per share. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 5.85 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.57%. Analog Devices’s payout ratio is 65.83%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,874,613 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently made changes to their positions in ADI. Girard Partners LTD. lifted its holdings in shares of Analog Devices by 2.8% in the 3rd quarter. Girard Partners LTD. now owns 10,398 shares of the semiconductor company’s stock worth $1,821,000 after acquiring an additional 287 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in Analog Devices by 15.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 18,370 shares of the semiconductor company’s stock valued at $3,216,000 after buying an additional 2,438 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in Analog Devices by 30.1% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,434 shares of the semiconductor company’s stock valued at $776,000 after buying an additional 1,025 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Analog Devices by 8.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 177,763 shares of the semiconductor company’s stock valued at $29,214,000 after buying an additional 14,198 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in Analog Devices by 20.7% during the 3rd quarter. Bahl & Gaynor Inc. now owns 283,957 shares of the semiconductor company’s stock valued at $49,718,000 after buying an additional 48,756 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.