Analog Devices (NASDAQ:ADI) Price Target Cut to $210.00 by Analysts at Barclays

Analog Devices (NASDAQ:ADI) had its price objective trimmed by Barclays from $250.00 to $210.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

ADI has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $247.57.

Analog Devices Trading Up 1.9 %

NASDAQ ADI opened at $219.16 on Friday. Analog Devices has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market capitalization of $108.74 billion, a PE ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a fifty day moving average of $215.78 and a 200 day moving average of $222.60.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS. Research analysts forecast that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its holdings in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Franklin Resources Inc. boosted its stake in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC increased its position in shares of Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after acquiring an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the period. Finally, Holocene Advisors LP raised its stake in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the period. Institutional investors and hedge funds 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.