Analog Devices (NASDAQ:ADI) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage presently has a $185.00 price objective on the semiconductor company’s stock, up from their prior price objective of $165.00. Sanford C. Bernstein’s price objective indicates a potential upside of 20.82% from the company’s previous close.
ADI has been the subject of a number of other research reports. Credit Suisse Group lifted their price objective on shares of Analog Devices from $165.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 18th. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a report on Monday, February 22nd. BMO Capital Markets boosted their price target on shares of Analog Devices from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Raymond James boosted their price target on shares of Analog Devices from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Finally, Royal Bank of Canada boosted their price target on shares of Analog Devices from $174.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $159.00.
Newly acquired key lithium properties may turn this explorer into the next lithium giant!
Shares of ADI opened at $153.12 on Thursday. Analog Devices has a 1-year low of $109.52 and a 1-year high of $164.40. The company has a 50-day moving average of $156.27 and a 200 day moving average of $149.85. The firm has a market capitalization of $56.49 billion, a price-to-earnings ratio of 46.68, a PEG ratio of 2.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.09. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $1.08 EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices will post 5.69 earnings per share for the current fiscal year.
In other Analog Devices news, SVP Gregory N. Henderson sold 6,058 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $162.16, for a total transaction of $982,365.28. Following the transaction, the senior vice president now owns 11,884 shares in the company, valued at approximately $1,927,109.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Sondel sold 2,210 shares of the company’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $163.79, for a total transaction of $361,975.90. Insiders have sold a total of 53,396 shares of company stock worth $8,385,638 in the last 90 days. 0.42% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of ADI. Norges Bank acquired a new position in Analog Devices during the 4th quarter valued at approximately $574,864,000. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 68.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,345,668 shares of the semiconductor company’s stock worth $641,986,000 after acquiring an additional 1,761,299 shares during the period. Theleme Partners LLP acquired a new stake in shares of Analog Devices in the first quarter worth $178,032,000. FMR LLC increased its stake in shares of Analog Devices by 21.0% in the fourth quarter. FMR LLC now owns 6,370,184 shares of the semiconductor company’s stock worth $941,067,000 after acquiring an additional 1,104,853 shares during the period. Finally, Amundi Asset Management US Inc. increased its stake in shares of Analog Devices by 29.0% in the first quarter. Amundi Asset Management US Inc. now owns 3,897,467 shares of the semiconductor company’s stock worth $604,419,000 after acquiring an additional 875,666 shares during the period. Institutional investors and hedge funds own 91.90% 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.
Featured Story: Why is insider trading harmful?
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]
Featured Article: Monthly Dividend Stocks Can Provide Solid Income
7 Stocks That Could Benefit From a Capital Gains Tax Hike
One thing every investor needs to learn is the effect of capital gains on their investments. Every time an investor sells a stock that has appreciated in value, that capital gain is subject to being taxed. Stocks that are held for less than a year pay a short-term capital gains tax rate. Stocks that are held for over a year pay a long-term capital gains tax rate.
In general, a capital gains tax hike is a bearish indicator for stocks. However, there are a couple of strategies that can help investors avoid some of the tax hit. One strategy is to keep your investments in an individual retirement account (IRA) or 401(k). However many higher-income earners want to have more access to the funds in their brokerage accounts.
A sound strategy for these investors involves buying dividend stocks. Dividend income is also taxed (unless it is reinvested), but typically when the capital gains tax rate is raised, the dividend income rate stays the same. This makes dividend stocks more attractive.
Investing in dividend stocks is never a bad idea, but at times when the capital gains tax rate is favorable, growth stocks provide a better reward for investor capital. But when long-term capital gains tax rates go up, those gains can get expensive.
In this special presentation, we’ll give you seven stocks that have a nice dividend yield and a strong story to go along with them.
View the “7 Stocks That Could Benefit From a Capital Gains Tax Hike”.
