Analog Devices, Inc. (NASDAQ:ADI) had its price target increased by Royal Bank of Canada from $90.00 to $92.00 in a report issued on Thursday morning. The brokerage currently has an outperform rating on the semiconductor company’s stock.
ADI has been the subject of several other research reports. Jefferies Group LLC raised their price objective on shares of Analog Devices to $100.00 and gave the company a buy rating in a research report on Monday, March 20th. Zacks Investment Research cut shares of Analog Devices from a strong-buy rating to a hold rating in a research report on Monday, May 15th. Drexel Hamilton raised their price objective on shares of Analog Devices to $93.00 and gave the company a buy rating in a research report on Thursday, February 16th. Wells Fargo & Co cut shares of Analog Devices from an outperform rating to a market perform rating in a research report on Thursday, February 16th. Finally, Pacific Crest raised their price objective on shares of Analog Devices to $98.00 and gave the company an overweight rating in a research report on Tuesday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $88.67.
Shares of Analog Devices (ADI) opened at 78.75 on Thursday. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 26.86 and a beta of 1.19. Analog Devices has a 52 week low of $52.17 and a 52 week high of $90.49. The stock has a 50 day moving average of $79.22 and a 200-day moving average of $77.51.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.18. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. Analysts expect that Analog Devices will post $4.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, June 7th. Analog Devices’s payout ratio is currently 60.87%.
In other news, SVP Peter Real sold 3,500 shares of Analog Devices stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $83.26, for a total value of $291,410.00. Following the sale, the senior vice president now directly owns 12,526 shares in the company, valued at $1,042,914.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil S. Novich sold 15,000 shares of Analog Devices stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $82.69, for a total transaction of $1,240,350.00. Following the completion of the sale, the director now owns 35,285 shares in the company, valued at $2,917,716.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,195 shares of company stock worth $15,165,148. Insiders own 1.10% of the company’s stock. Several hedge funds have recently bought and sold shares of ADI. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter worth about $100,000. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices during the first quarter worth about $113,000. Heritage Trust Co acquired a new stake in Analog Devices during the first quarter worth about $114,000. Parallel Advisors LLC acquired a new stake in Analog Devices during the fourth quarter worth about $115,000. Finally, Guardian Life Insurance Co. of America increased its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the period. Institutional investors own 90.38% of the company’s stock.
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