Analog Devices, Inc. (ADI) Receives $107.00 Consensus Price Target from Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $106.84.

ADI has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 31st. BidaskClub lowered shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. B. Riley lowered their price objective on shares of Analog Devices from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd.

Analog Devices stock opened at $95.00 on Friday. Analog Devices has a 12-month low of $80.95 and a 12-month high of $103.59. The stock has a market cap of $35.15 billion, a P/E ratio of 20.13, a PEG ratio of 1.30 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. equities research analysts predict that Analog Devices will post 5.89 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.02%. Analog Devices’s dividend payout ratio is currently 40.68%.

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total transaction of $971,900.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares in the company, valued at approximately $2,660,673.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil S. Novich sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $95.90, for a total transaction of $719,250.00. Following the sale, the director now owns 30,240 shares of the company’s stock, valued at approximately $2,900,016. The disclosure for this sale can be found here. Insiders sold 106,655 shares of company stock valued at $10,425,833 in the last quarter. 0.70% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Washington Trust Bank increased its position in shares of Analog Devices by 127.7% during the second quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 600 shares in the last quarter. Fort L.P. bought a new stake in shares of Analog Devices during the second quarter valued at approximately $117,000. Integrated Investment Consultants LLC bought a new stake in shares of Analog Devices during the second quarter valued at approximately $130,000. Clarus Wealth Advisors bought a new stake in shares of Analog Devices during the second quarter valued at approximately $139,000. Finally, Summit Trail Advisors LLC increased its position in shares of Analog Devices by 401.2% during the first quarter. Summit Trail Advisors LLC now owns 10,455 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 8,369 shares in the last quarter. Institutional investors and hedge funds own 88.02% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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