Piper Jaffray Companies reaffirmed their buy rating on shares of Analog Devices (NASDAQ:ADI) in a report issued on Wednesday morning. The firm currently has a $118.00 price objective on the semiconductor company’s stock.
Other equities analysts have also issued reports about the company. Morgan Stanley reissued an equal weight rating on shares of Analog Devices in a research note on Wednesday, December 19th. Zacks Investment Research upgraded Analog Devices from a sell rating to a hold rating in a report on Tuesday, February 12th. SunTrust Banks reduced their price objective on Analog Devices to $106.00 and set a buy rating on the stock in a report on Sunday, November 25th. B. Riley lifted their price target on Analog Devices to $105.00 and gave the company a buy rating in a report on Wednesday, November 21st. Finally, Barclays reiterated a hold rating and issued a $102.00 price target on shares of Analog Devices in a report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $101.71.
ADI traded down $1.16 during midday trading on Wednesday, reaching $105.66. The company had a trading volume of 364,333 shares, compared to its average volume of 2,830,858. The company has a quick ratio of 1.08, a current ratio of 1.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $38.49 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.56 and a beta of 1.24. Analog Devices has a 1 year low of $76.62 and a 1 year high of $108.28.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. On average, equities analysts anticipate that Analog Devices will post 5.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, February 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.48. Analog Devices’s payout ratio is currently 32.32%.
In other news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $93.34, for a total value of $252,018.00. Following the completion of the transaction, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,288,416.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $93.34, for a total transaction of $933,400.00. Following the sale, the chief executive officer now owns 27,376 shares of the company’s stock, valued at approximately $2,555,275.84. The disclosure for this sale can be found here. Insiders have sold 33,103 shares of company stock worth $3,020,189 in the last 90 days. 0.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ADI. Kaizen Advisory LLC lifted its position in Analog Devices by 11.7% during the fourth quarter. Kaizen Advisory LLC now owns 1,023 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 107 shares during the period. Whittier Trust Co. boosted its holdings in Analog Devices by 3.2% in the fourth quarter. Whittier Trust Co. now owns 4,486 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 139 shares during the last quarter. HL Financial Services LLC boosted its holdings in shares of Analog Devices by 5.5% during the 4th quarter. HL Financial Services LLC now owns 2,914 shares of the semiconductor company’s stock worth $250,000 after buying an additional 153 shares in the last quarter. BDO Wealth Advisors LLC boosted its holdings in shares of Analog Devices by 39.8% during the 4th quarter. BDO Wealth Advisors LLC now owns 594 shares of the semiconductor company’s stock worth $51,000 after buying an additional 169 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Analog Devices by 6.3% in the 4th quarter. National Asset Management Inc. now owns 2,958 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 176 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, 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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