Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Target Price at $254.05

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $252.14.

A number of equities research analysts have issued reports on ADI shares. Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Citigroup reduced their target price on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Barclays cut their price target on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a report on Tuesday. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 over the last three months. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth approximately $27,000. Menard Financial Group LLC acquired a new position in Analog Devices in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.0 %

Analog Devices stock opened at $178.50 on Friday. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10. The firm’s 50-day moving average is $204.78 and its 200-day moving average is $213.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $88.53 billion, a P/E ratio of 56.85, a PEG ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, equities analysts expect that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.22%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices Company Profile

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.