Citigroup Inc reaffirmed their neutral rating on shares of Analog Devices, Inc. (NASDAQ:ADI) in a report issued on Thursday morning. The brokerage currently has a $91.00 price target on the semiconductor company’s stock, up from their prior price target of $84.00.
ADI has been the topic of several other research reports. Jefferies Group LLC lifted their price objective on shares of Analog Devices to $100.00 and gave the stock a buy rating in a research note on Monday, March 20th. Zacks Investment Research downgraded shares of Analog Devices from a strong-buy rating to a hold rating in a report on Monday, May 15th. Drexel Hamilton lifted their price objective on shares of Analog Devices to $93.00 and gave the company a buy rating in a report on Thursday, February 16th. Royal Bank of Canada reiterated a buy rating and issued a $90.00 price objective on shares of Analog Devices in a report on Friday, March 17th. Finally, Wells Fargo & Co downgraded shares of Analog Devices from an outperform rating to a market perform rating in a report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $88.67.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Analog Devices’s revenue was up 41.2% on a year-over-year basis. Analysts expect that Analog Devices will post $4.37 earnings per share for the current year. The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, June 7th. Analog Devices’s dividend payout ratio (DPR) is 60.87%.
In other news, CAO Eileen Wynne sold 5,945 shares of the company’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total transaction of $451,582.20. Following the transaction, the chief accounting officer now directly owns 3,305 shares of the company’s stock, valued at $251,047.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at $5,318,366. The disclosure for this sale can be found here. Insiders sold 182,195 shares of company stock worth $15,165,148 over the last three months. Corporate insiders own 1.10% of the company’s stock. A number of hedge funds and other institutional investors have recently bought and sold shares of ADI. Lazard Asset Management LLC bought a new stake in shares of Analog Devices during the first quarter worth approximately $100,000. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices during the first quarter valued at about $113,000. Heritage Trust Co acquired a new stake in Analog Devices during the first quarter valued at about $114,000. Parallel Advisors LLC acquired a new stake in Analog Devices during the fourth quarter valued at about $115,000. Finally, Guardian Life Insurance Co. of America boosted 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 valued at $115,000 after buying an additional 223 shares in the last quarter. 90.38% of the stock is currently owned by institutional investors.
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