Analog Devices (NASDAQ:ADI) Price Target Increased to $260.00 by Analysts at JPMorgan Chase & Co.

Analog Devices (NASDAQ:ADI) had its target price upped by JPMorgan Chase & Co. from $220.00 to $260.00 in a research note released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other research analysts also recently commented on ADI. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Cantor Fitzgerald boosted their price target on Analog Devices from $205.00 to $240.00 and gave the company a neutral rating in a research note on Wednesday, May 15th. Truist Financial reduced their price target on Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Bank of America boosted their price target on Analog Devices from $225.00 to $260.00 and gave the company a buy rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $243.23.

Analog Devices Stock Down 0.9 %

ADI stock opened at $232.51 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $200.67 and a two-hundred day moving average price of $193.84. The company has a market cap of $115.38 billion, a price-to-earnings ratio of 54.32, a P/E/G ratio of 5.77 and a beta of 1.14. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share 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 return on equity of 10.74% and a net margin of 20.45%. The business’s revenue was down 33.8% compared to the same quarter last year. During the same period last year, the company earned $2.83 earnings per share. Analysts anticipate that Analog Devices will post 6.16 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date 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 currently 85.98%.

Insider Transactions at Analog Devices

In other 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 completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock valued at $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC grew its position in Analog Devices by 59.5% during the 1st quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after acquiring an additional 4,850 shares during the last quarter. Cetera Investment Advisers grew its position in Analog Devices by 588.7% during the 1st quarter. Cetera Investment Advisers now owns 94,201 shares of the semiconductor company’s stock worth $18,632,000 after acquiring an additional 80,522 shares during the last quarter. Farallon Capital Management LLC grew its position in Analog Devices by 3.3% during the 1st quarter. Farallon Capital Management LLC now owns 1,537,990 shares of the semiconductor company’s stock worth $304,199,000 after acquiring an additional 48,890 shares during the last quarter. PGGM Investments bought a new stake in Analog Devices during the 1st quarter worth $166,000. Finally, Atria Investments Inc grew its position in Analog Devices by 0.4% during the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock worth $7,149,000 after acquiring an additional 149 shares during the last quarter. Institutional investors 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.