Shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) gapped down prior to trading on Wednesday after BMO Capital Markets lowered their price target on the stock from $215.00 to $200.00. The stock had previously closed at $187.92, but opened at $171.50. Analog Devices shares last traded at $173.96, with a volume of 2,481,238 shares changing hands.
A number of other research firms have also weighed in on ADI. Morgan Stanley cut their target price on shares of Analog Devices from $210.00 to $195.00 in a research report on Wednesday. Susquehanna cut their target price on shares of Analog Devices from $225.00 to $215.00 in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Analog Devices from $190.00 to $185.00 in a research report on Thursday. UBS Group boosted their target price on shares of Analog Devices from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Finally, Truist Financial dropped their price objective on shares of Analog Devices from $251.00 to $213.00 in a report on Thursday. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.
Insider Buying and Selling at Analog Devices
In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 23,871 shares in the company, valued at $4,464,115.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director James Champy sold 1,495 shares of the company’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 transaction, 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 available through the SEC website. 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 transaction, the chief financial officer now owns 23,871 shares in the company, valued at $4,464,115.71. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
Hedge Funds Weigh In On Analog Devices
A number of large investors have recently modified their holdings of ADI. Kistler Tiffany Companies LLC acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $25,000. Silicon Valley Capital Partners acquired a new position in Analog Devices in the first quarter valued at approximately $27,000. My Personal CFO LLC acquired a new position in Analog Devices in the fourth quarter valued at approximately $29,000. Magellan Asset Management Ltd acquired a new position in Analog Devices in the first quarter valued at approximately $30,000. Finally, Fortis Capital Advisors LLC acquired a new position in Analog Devices in the first quarter valued at approximately $31,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Price Performance
The company’s fifty day moving average is $186.11 and its two-hundred day moving average is $176.80. The firm has a market capitalization of $87.20 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18.
Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business posted $2.40 earnings per share. Analog Devices’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 10.65 earnings per share for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Monday, June 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 2nd. Analog Devices’s payout ratio is presently 51.89%.
About Analog Devices
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.
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