Analog Devices (NASDAQ:ADI) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Analog Devices (NASDAQ:ADI) in a research report report published on Thursday morning, Benzinga reports.

ADI has been the subject of several other reports. Truist Financial decreased their price target on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group raised their price target on shares of Analog Devices from $191.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Stifel Nicolaus raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a buy rating in a research note on Monday, May 20th. Finally, Barclays raised their target price on shares of Analog Devices from $185.00 to $210.00 and gave the company an equal weight rating in a research note on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $243.23.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.58. The company has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14. The company’s 50 day moving average price is $200.67 and its two-hundred day moving average price is $193.66. Analog Devices has a 52 week low of $154.99 and a 52 week high of $241.88.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period last year, the business earned $2.83 EPS. On average, analysts expect that Analog Devices will post 5.93 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new position in Analog Devices in the fourth quarter valued at about $1,152,000. Sequoia Financial Advisors LLC raised its stake in Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in Analog Devices by 37.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after acquiring an additional 2,215 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after acquiring an additional 4,516 shares during the last quarter. Institutional investors and hedge funds 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.