BMO Capital Markets restated their outperform rating on shares of Analog Devices, Inc. (NASDAQ:ADI) in a report released on Tuesday, August 29th. They currently have a $100.00 target price on the semiconductor company’s stock, up from their prior target price of $96.00.
Several other brokerages also recently weighed in on ADI. Argus raised their price target on shares of Analog Devices from $86.00 to $92.00 and gave the company an outperform rating in a research report on Thursday, June 1st. Royal Bank Of Canada lifted their target price on shares of Analog Devices from $90.00 to $92.00 and gave the stock an outperform rating in a research report on Thursday, June 1st. Drexel Hamilton reaffirmed a buy rating and issued a $105.00 target price (up previously from $93.00) on shares of Analog Devices in a research report on Wednesday, May 31st. B. Riley reaffirmed a buy rating and issued a $103.00 target price on shares of Analog Devices in a research report on Tuesday, May 30th. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $100.00 target price on shares of Analog Devices in a research report on Friday, May 26th. Twelve research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $91.85.
Shares of Analog Devices (ADI) opened at 82.35 on Tuesday. The firm’s 50-day moving average price is $79.94 and its 200-day moving average price is $80.16. Analog Devices has a one year low of $59.54 and a one year high of $90.49. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 40.99 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was up 64.9% on a year-over-year basis. Analysts anticipate that Analog Devices will post $4.62 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. Analog Devices’s payout ratio is 86.12%.
In other Analog Devices news, SVP Joseph Hassett sold 11,280 shares of Analog Devices stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $83.76, for a total transaction of $944,812.80. Following the completion of the sale, the senior vice president now directly owns 23,019 shares in the company, valued at $1,928,071.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Evans purchased 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the purchase, the director now directly owns 67,540 shares of the company’s stock, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders sold 45,686 shares of company stock worth $3,780,282 in the last quarter. Company insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. British Columbia Investment Management Corp increased its stake in Analog Devices by 34.2% in the 1st quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock valued at $17,089,000 after buying an additional 53,139 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Analog Devices during the 1st quarter worth $63,309,000. Summit Securities Group LLC acquired a new position in shares of Analog Devices during the 1st quarter worth $1,572,000. Boston Family Office LLC grew its stake in shares of Analog Devices by 37.9% during the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares during the period. Finally, Norinchukin Bank The grew its stake in shares of Analog Devices by 26.5% during the 1st quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after purchasing an additional 4,956 shares during the period. 86.72% of the stock is currently owned by institutional investors.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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