Analog Devices (NASDAQ:ADI) Price Target Increased to $204.00 by Analysts at Truist Securities

Analog Devices (NASDAQ:ADI) had its target price increased by Truist Securities from $192.00 to $204.00 in a report released on Wednesday morning, Stock Target Advisor reports. Truist Securities currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the company. Raymond James lifted their price target on Analog Devices from $185.00 to $210.00 and gave the company an outperform rating in a research report on Wednesday. UBS Group initiated coverage on Analog Devices in a research report on Wednesday, October 13th. They set a buy rating and a $210.00 price target for the company. Zacks Investment Research cut Analog Devices from a hold rating to a sell rating and set a $194.00 price objective for the company. in a research report on Tuesday, November 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Analog Devices from $175.00 to $190.00 and gave the company a hold rating in a research report on Wednesday. Finally, Oppenheimer boosted their price objective on Analog Devices from $200.00 to $210.00 and gave the company an outperform rating in a research report on Friday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $193.41.

Shares of NASDAQ:ADI opened at $182.47 on Wednesday. Analog Devices has a 52-week low of $134.96 and a 52-week high of $191.95. The stock has a market cap of $67.19 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.70 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $175.94 and a 200-day moving average price of $168.66.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Monday, November 22nd. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The company’s revenue for the quarter was up 53.3% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. As a group, equities analysts anticipate that Analog Devices will post 6.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 14th. Shareholders of record on Friday, December 3rd will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 2nd. Analog Devices’s dividend payout ratio (DPR) is currently 60.39%.

Analog Devices declared that its board has authorized a share buyback program on Wednesday, August 25th that authorizes the company to buyback $8.50 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other Analog Devices news, Director Bruce R. Evans purchased 8,001 shares of the firm’s stock in a transaction dated Wednesday, October 6th. The shares were acquired at an average price of $164.98 per share, with a total value of $1,320,004.98. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tunc Doluca sold 7,000 shares of the business’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $173.18, for a total value of $1,212,260.00. The disclosure for this sale can be found here. Insiders have sold 31,100 shares of company stock worth $5,382,960 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ADI. Camden National Bank purchased a new stake in Analog Devices during the 4th quarter worth about $247,000. Ameritas Investment Company LLC acquired a new position in shares of Analog Devices during the 1st quarter worth about $27,000. Colony Group LLC boosted its position in shares of Analog Devices by 42.4% during the 1st quarter. Colony Group LLC now owns 14,225 shares of the semiconductor company’s stock worth $2,206,000 after acquiring an additional 4,235 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Analog Devices by 249.3% during the 1st quarter. Schroder Investment Management Group now owns 84,041 shares of the semiconductor company’s stock worth $13,034,000 after acquiring an additional 59,979 shares in the last quarter. Finally, HM Payson & Co. boosted its position in shares of Analog Devices by 4.0% during the 1st quarter. HM Payson & Co. now owns 7,096 shares of the semiconductor company’s stock worth $1,100,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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