Analog Devices, Inc. (NASDAQ:ADI) Receives $287.22 Consensus Price Target from Analysts

Analog Devices, Inc. (NASDAQ:ADI) has received a consensus rating of “Moderate Buy” from the thirty-three ratings firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $287.2174.

ADI has been the subject of a number of recent research reports. Morgan Stanley increased their price target on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Bank of America increased their target price on shares of Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Piper Sandler set a $290.00 price target on Analog Devices in a research report on Tuesday, November 25th. Truist Financial increased their price objective on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research report on Friday, December 19th. Finally, Stifel Nicolaus set a $280.00 target price on Analog Devices in a research note on Friday, November 21st.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.71, for a total transaction of $2,437,100.00. Following the completion of the transaction, the chief executive officer directly owned 140,118 shares of the company’s stock, valued at $34,148,157.78. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,419 shares of company stock worth $10,249,017 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in Analog Devices in the second quarter worth $1,803,377,000. Amundi grew its stake in shares of Analog Devices by 44.8% during the 3rd quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock worth $1,507,740,000 after purchasing an additional 1,922,302 shares during the period. Raymond James Financial Inc. grew its stake in shares of Analog Devices by 29.2% during the 3rd quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company’s stock worth $1,186,714,000 after purchasing an additional 1,091,004 shares during the period. Marshall Wace LLP increased its holdings in shares of Analog Devices by 948.2% in the 2nd quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after purchasing an additional 982,385 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Analog Devices by 47.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after purchasing an additional 882,909 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 0.3%

NASDAQ:ADI opened at $276.84 on Wednesday. The company has a market capitalization of $135.55 billion, a PE ratio of 60.71, a P/E/G ratio of 1.53 and a beta of 1.03. Analog Devices has a 52-week low of $158.65 and a 52-week high of $284.23. The stock’s 50 day moving average price is $254.03 and its 200 day moving average price is $244.34. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 earnings per share. On average, research analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.