Analog Devices (NASDAQ:ADI) PT Raised to $260.00 at Bank of America

Analog Devices (NASDAQ:ADI) had its target price hoisted by Bank of America from $225.00 to $260.00 in a research note published on Thursday morning, Marketbeat reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Analog Devices in a report on Monday, May 13th. They set a buy rating and a $250.00 price target for the company. Stifel Nicolaus upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock a buy rating in a report on Monday, May 20th. KeyCorp upped their price objective on Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. The Goldman Sachs Group upped their price objective on Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Barclays upped their price objective on 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $243.23.

Analog Devices Trading Down 0.9 %

Shares of Analog Devices stock opened at $232.51 on Thursday. The stock has a fifty day simple moving average of $200.67 and a 200 day simple moving average of $193.84. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88. The company has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a price-to-earnings-growth ratio of 5.77 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $2.83 earnings per share. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices will post 6.16 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity

In related news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,874,613 in the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

A number of institutional investors have recently added to or reduced their stakes in ADI. Vanguard Group Inc. increased its stake in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Analog Devices by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after acquiring an additional 1,197,215 shares during the last quarter. Invesco Ltd. increased its stake in Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Finally, Norges Bank bought a new position in Analog Devices in the 4th quarter worth about $1,225,227,000. Hedge funds and other institutional investors 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.