Analog Devices (NASDAQ:ADI) Given New $285.00 Price Target at KeyCorp

Analog Devices (NASDAQ:ADI) had its price objective increased by KeyCorp from $230.00 to $285.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

ADI has been the subject of a number of other research reports. Barclays raised their price objective on shares of Analog Devices from $185.00 to $210.00 and gave the company an equal weight rating in a research report on Monday, May 20th. Truist Financial reduced their price objective on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Morgan Stanley restated an overweight rating and issued a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Oppenheimer increased their target price on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a report on Thursday, May 16th. Finally, Evercore ISI initiated coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an outperform rating and a $254.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of Moderate Buy and an average target price of $243.23.

Analog Devices Price Performance

Shares of ADI opened at $232.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.58. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.77 and a beta of 1.14. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The firm has a 50-day simple moving average of $200.67 and a 200-day simple moving average of $193.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm’s revenue was down 33.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 earnings per share. On average, equities research analysts anticipate that Analog Devices will post 6.16 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

A number of hedge funds have recently bought and sold shares of ADI. Amarillo National Bank boosted its holdings in shares of Analog Devices by 3.7% in the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Analog Devices by 0.7% in the 1st quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services boosted its holdings in shares of Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of Analog Devices by 2.1% in the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 57 shares during the last quarter. Finally, Legacy Advisors LLC boosted its holdings in shares of Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds 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.