Analog Devices, Inc. (NASDAQ:ADI) – Research analysts at KeyCorp lifted their FY2021 earnings per share estimates for shares of Analog Devices in a report issued on Tuesday, July 6th. KeyCorp analyst J. Vinh now forecasts that the semiconductor company will earn $6.33 per share for the year, up from their previous estimate of $6.26. KeyCorp currently has a “Overweight” rating and a $200.00 target price on the stock.
Several other brokerages have also recently weighed in on ADI. Bank of America boosted their price objective on Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Deutsche Bank Aktiengesellschaft upped their target price on Analog Devices from $160.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, May 20th. Sanford C. Bernstein raised Analog Devices from a “market perform” rating to an “outperform” rating and upped their target price for the company from $165.00 to $185.00 in a research note on Thursday, May 20th. Truist Securities cut their target price on Analog Devices from $183.00 to $179.00 and set a “buy” rating on the stock in a research note on Thursday, May 20th. Finally, Needham & Company LLC initiated coverage on Analog Devices in a research note on Thursday, June 24th. They set a “buy” rating and a $195.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $174.95.
Shares of NASDAQ ADI opened at $168.32 on Wednesday. The stock’s 50 day moving average is $161.33. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.31. Analog Devices has a 1-year low of $110.47 and a 1-year high of $172.45. The company has a market capitalization of $62.08 billion, a PE ratio of 29.53, a P/E/G ratio of 2.22 and a beta of 1.25. Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.09. Analog Devices had a return on equity of 17.91% and a net margin of 25.16%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 8th. Stockholders of record on Friday, May 28th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $2.76 annualized dividend and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio is presently 56.21%.
In related news, SVP Gregory N. Henderson sold 6,078 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,008,527.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 6,750 shares of the firm’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $165.18, for a total value of $1,114,965.00. Following the completion of the transaction, the chief financial officer now owns 21,912 shares of the company’s stock, valued at approximately $3,619,424.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,828 shares of company stock valued at $3,780,683. Company insiders own 0.91% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. CVA Family Office LLC purchased a new position in Analog Devices in the 1st quarter worth $26,000. Ameritas Investment Company LLC acquired a new stake in Analog Devices during the 1st quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new stake in Analog Devices during the 1st quarter worth about $30,000. Meridian Wealth Partners LLC acquired a new stake in Analog Devices during the 1st quarter worth about $34,000. Finally, Concord Wealth Partners acquired a new stake in Analog Devices during the 4th quarter worth about $38,000. Institutional investors own 95.93% of the company’s stock.
About Analog Devices
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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