Analog Devices, Inc. (NASDAQ:ADI) Receives Average Recommendation of “Buy” from Analysts

Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned an average rating of “Buy” from the twenty-four research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $167.18.

Several research analysts have recently commented on ADI shares. Deutsche Bank Aktiengesellschaft raised their price objective on Analog Devices from $160.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, May 20th. Raymond James raised their price objective on Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, February 18th. Piper Sandler raised their price objective on Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 18th. Sanford C. Bernstein raised Analog Devices from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $185.00 in a research note on Thursday, May 20th. Finally, Argus raised their price objective on Analog Devices from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 19th.

Shares of NASDAQ:ADI opened at $166.22 on Friday. The stock has a market capitalization of $61.31 billion, a PE ratio of 39.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.05 and a quick ratio of 0.81. The stock has a 50-day moving average price of $158.97. Analog Devices has a 52-week low of $110.47 and a 52-week high of $168.93.

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Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Analog Devices had a return on equity of 17.91% and a net margin of 25.16%. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. As a group, equities analysts forecast that Analog Devices will post 6.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 8th. Shareholders of record on Friday, May 28th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, May 27th. Analog Devices’s dividend payout ratio is presently 56.21%.

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $157.38, for a total value of $1,573,800.00. Following the completion of the transaction, the chief executive officer now owns 37,598 shares in the company, valued at approximately $5,917,173.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gregory N. Henderson sold 6,078 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 15th. The stock was sold at an average price of $168.43, for a total value of $1,023,717.54. Following the completion of the transaction, the senior vice president now owns 11,925 shares of the company’s stock, valued at approximately $2,008,527.75. The disclosure for this sale can be found here. Insiders have sold a total of 72,457 shares of company stock valued at $11,570,140 in the last 90 days. 0.91% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Scott & Selber Inc. purchased a new position in Analog Devices during the 1st quarter valued at $1,004,000. Live Oak Private Wealth LLC boosted its holdings in Analog Devices by 51.6% during the 1st quarter. Live Oak Private Wealth LLC now owns 6,499 shares of the semiconductor company’s stock valued at $1,008,000 after acquiring an additional 2,212 shares during the period. Cidel Asset Management Inc. raised its position in Analog Devices by 6.2% during the 1st quarter. Cidel Asset Management Inc. now owns 65,150 shares of the semiconductor company’s stock valued at $10,103,000 after purchasing an additional 3,810 shares in the last quarter. Glaxis Capital Management LLC bought a new stake in Analog Devices during the 1st quarter valued at $3,175,000. Finally, Fifth Third Bancorp raised its position in Analog Devices by 1.6% during the 1st quarter. Fifth Third Bancorp now owns 104,992 shares of the semiconductor company’s stock valued at $16,282,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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