Analog Devices (ADI) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Analog Devices (NASDAQ:ADI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a sector weight rating on the semiconductor company’s stock.

ADI has been the topic of a number of other research reports. BidaskClub raised Analog Devices from a sell rating to a hold rating in a research report on Friday, September 21st. SunTrust Banks reaffirmed a buy rating and issued a $118.00 price target on shares of Analog Devices in a research report on Thursday, August 30th. Zacks Investment Research lowered Analog Devices from a buy rating to a hold rating in a research report on Friday, August 24th. B. Riley reduced their price target on Analog Devices from $120.00 to $117.00 and set a buy rating on the stock in a research report on Thursday, August 23rd. Finally, Raymond James increased their price target on Analog Devices from $105.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, August 23rd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $107.00.

ADI opened at $92.56 on Tuesday. Analog Devices has a 12-month low of $80.95 and a 12-month high of $103.59. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $35.31 billion, a P/E ratio of 19.61, a PEG ratio of 1.30 and a beta of 1.18.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company earned $1.26 EPS. Analog Devices’s revenue was up 9.7% on a year-over-year basis. equities analysts forecast that Analog Devices will post 5.89 earnings per share for the current year.

Analog Devices declared that its board has approved a share repurchase plan on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 31st were issued 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 dividend yield of 2.07%. Analog Devices’s payout ratio is currently 40.68%.

In other news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $262,413.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 4,000 shares of the stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $96.72, for a total value of $386,880.00. Following the completion of the transaction, the senior vice president now owns 4,173 shares in the company, valued at approximately $403,612.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,655 shares of company stock worth $10,425,833. Company insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Washington Trust Bank grew its stake in Analog Devices by 127.7% during the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after buying an additional 600 shares during the last quarter. Fort L.P. purchased a new position in Analog Devices during the 2nd quarter worth approximately $117,000. Integrated Investment Consultants LLC purchased a new position in Analog Devices during the 2nd quarter worth approximately $130,000. Clarus Wealth Advisors purchased a new position in Analog Devices during the 2nd quarter worth approximately $139,000. Finally, Summit Trail Advisors LLC grew its stake in Analog Devices by 6,966.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock worth $147,000 after buying an additional 145,324 shares during the last quarter. Institutional investors and hedge funds own 88.02% of the company’s stock.

About Analog Devices

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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