Analog Devices (NASDAQ:ADI) PT Raised to $210.00

Analog Devices (NASDAQ:ADI) had its price target boosted by Piper Sandler from $190.00 to $210.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ADI. 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 note on Tuesday, November 9th. Stifel Nicolaus lifted their price objective on Analog Devices from $185.00 to $190.00 and gave the company a buy rating in a research note on Thursday, August 19th. UBS Group assumed coverage on Analog Devices in a research note on Wednesday, October 13th. They set a buy rating and a $210.00 target price for the company. Oppenheimer boosted their target price on Analog Devices from $200.00 to $210.00 and gave the stock an outperform rating in a research note on Friday, November 19th. Finally, Truist Securities boosted their target price on Analog Devices from $179.00 to $190.00 and gave the stock a buy rating in a research note on Thursday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $193.41.

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 company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $67.19 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.70 and a beta of 1.16. The stock’s fifty day moving average is $175.94 and its two-hundred day moving average is $168.66.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Monday, November 22nd. The semiconductor company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.03. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices will post 6.41 earnings per share 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 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, December 2nd. Analog Devices’s dividend payout ratio is presently 60.39%.

Analog Devices announced that its board has approved a stock buyback plan on Wednesday, August 25th that authorizes the company to buyback $8.50 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 13.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Bruce R. Evans purchased 8,001 shares of the stock in a transaction that occurred on Wednesday, October 6th. The shares were acquired at an average price of $164.98 per share, for a total transaction of $1,320,004.98. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $168.09, for a total value of $1,680,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,100 shares of company stock valued at $5,382,960. 0.91% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Park National Corp OH grew its holdings in Analog Devices by 4.8% during the 3rd quarter. Park National Corp OH now owns 141,653 shares of the semiconductor company’s stock valued at $23,724,000 after buying an additional 6,463 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Analog Devices by 5.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 129,398 shares of the semiconductor company’s stock valued at $22,277,000 after buying an additional 6,119 shares during the last quarter. AGF Investments Inc. grew its holdings in Analog Devices by 47.0% during the 2nd quarter. AGF Investments Inc. now owns 193,531 shares of the semiconductor company’s stock valued at $33,318,000 after buying an additional 61,914 shares during the last quarter. Cullinan Associates Inc. acquired a new stake in Analog Devices during the 3rd quarter valued at $6,810,000. Finally, Creative Planning grew its holdings in Analog Devices by 6.9% during the 2nd quarter. Creative Planning now owns 28,724 shares of the semiconductor company’s stock valued at $4,945,000 after buying an additional 1,847 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About Analog Devices

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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