Analog Devices (NASDAQ:ADI) Price Target Lowered to $215.00 at Oppenheimer

Analog Devices (NASDAQ:ADI – Get Rating) had its price objective decreased by Oppenheimer from $230.00 to $215.00 in a report released on Thursday morning, The Fly reports.

Several other research firms have also commented on ADI. Deutsche Bank Aktiengesellschaft increased their price target on shares of Analog Devices from $170.00 to $200.00 in a research report on Thursday, February 16th. Raymond James upped their price objective on shares of Analog Devices from $200.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, February 16th. Cowen upped their price objective on shares of Analog Devices from $200.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, February 16th. UBS Group increased their price target on shares of Analog Devices from $195.00 to $225.00 and gave the stock a buy rating in a research note on Thursday, February 16th. Finally, Sanford C. Bernstein increased their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the stock an outperform rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of Moderate Buy and an average target price of $208.17.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $172.39 on Thursday. The company’s fifty day moving average price is $186.11 and its 200 day moving average price is $176.80. Analog Devices has a 12 month low of $133.48 and a 12 month high of $198.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50. The firm has a market capitalization of $87.20 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.44 and a beta of 1.15.

Analog Devices (NASDAQ:ADI – Get Rating) last posted its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. Analog Devices’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 earnings per share. As a group, sell-side analysts predict that Analog Devices will post 10.65 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 2nd. Analog Devices’s dividend payout ratio (DPR) is presently 51.89%.

Insiders Place Their Bets

In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the sale, the chief financial officer now owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director James Champy sold 1,495 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total transaction of $277,232.80. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at $1,181,438.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Analog Devices during the fourth quarter valued at $1,040,194,000. FMR LLC raised its stake in shares of Analog Devices by 72.8% in the first quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after acquiring an additional 5,748,969 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Analog Devices by 360.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock worth $288,077,000 after purchasing an additional 4,810,035 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Analog Devices by 101,479.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after purchasing an additional 4,107,895 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Analog Devices by 16,424.9% in the first quarter. Proficio Capital Partners LLC now owns 3,140,564 shares of the semiconductor company’s stock worth $3,141,000 after purchasing an additional 3,121,559 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.