The Goldman Sachs Group Raises Analog Devices (NASDAQ:ADI) Price Target to $252.00

Analog Devices (NASDAQ:ADI) had its target price boosted by The Goldman Sachs Group from $205.00 to $252.00 in a research report released on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently issued reports on ADI. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday, April 16th. They set an outperform rating and a $254.00 price objective for the company. Stifel Nicolaus raised their target price on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a report on Monday, May 20th. Needham & Company LLC restated a hold rating on shares of Analog Devices in a report on Thursday. Barclays raised their target price on Analog Devices from $185.00 to $210.00 and gave the company an equal weight rating in a report on Monday, May 20th. Finally, Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the company a buy rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $243.23.

Analog Devices Price Performance

ADI opened at $232.51 on Thursday. The stock has a market cap of $115.38 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.77 and a beta of 1.14. Analog Devices has a 1 year low of $154.99 and a 1 year high of $241.88. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $200.67 and a 200 day moving average price of $193.84.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.83 earnings per share. Analysts forecast that Analog Devices will post 6.16 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the business’s 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 transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last three months. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC boosted its holdings in Analog Devices by 59.5% during the first quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock valued at $2,571,000 after purchasing an additional 4,850 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Analog Devices by 588.7% during the first quarter. Cetera Investment Advisers now owns 94,201 shares of the semiconductor company’s stock valued at $18,632,000 after purchasing an additional 80,522 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Analog Devices by 3.3% during the first quarter. Farallon Capital Management LLC now owns 1,537,990 shares of the semiconductor company’s stock valued at $304,199,000 after purchasing an additional 48,890 shares in the last quarter. PGGM Investments acquired a new stake in Analog Devices during the first quarter valued at approximately $166,000. Finally, Atria Investments Inc boosted its holdings in shares of Analog Devices by 0.4% in the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock worth $7,149,000 after acquiring an additional 149 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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.