Analog Devices (NASDAQ:ADI) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Analog Devices (NASDAQ:ADI) from a buy rating to a hold rating in a research note released on Saturday.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Benchmark reaffirmed a “buy” rating and set a $285.00 price target on shares of Analog Devices in a report on Wednesday, November 26th. UBS Group upped their price objective on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. raised their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, BNP Paribas Exane initiated coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $287.22.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $276.84 on Friday. The business has a 50-day simple moving average of $254.03 and a 200-day simple moving average of $244.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices has a one year low of $158.65 and a one year high of $284.23. The company has a market cap of $135.55 billion, a PE ratio of 60.71, a P/E/G ratio of 1.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s payout ratio is currently 86.84%.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 40,419 shares of company stock valued at $10,249,017. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Howard Hughes Medical Institute purchased a new stake in Analog Devices during the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $26,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices during the third quarter worth approximately $31,000. Activest Wealth Management raised its stake in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Analog Devices during the third quarter worth $32,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.