Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) PT at $255.41

Analog Devices, Inc. (NASDAQ:ADI) has earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $255.41.

ADI has been the topic of several analyst reports. Benchmark increased their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADI. Harvest Fund Management Co. Ltd increased its holdings in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in Analog Devices in the 4th quarter valued at about $460,000. Czech National Bank raised its holdings in Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after acquiring an additional 6,566 shares during the period. Synergy Asset Management LLC lifted its position in Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Analog Devices during the third quarter worth approximately $20,194,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Monday. The company has a 50 day moving average of $216.51 and a 200-day moving average of $219.49. Analog Devices has a one year low of $182.57 and a one year high of $247.10. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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.