Analog Devices (NASDAQ:ADI) PT Raised to $204.00

Analog Devices (NASDAQ:ADI) had its price objective hoisted by Truist Securities from $192.00 to $204.00 in a research report released on Wednesday morning, Stock Target Advisor reports. Truist Securities currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on ADI. Oppenheimer lifted their target price on Analog Devices from $200.00 to $210.00 and gave the company an outperform rating in a report on Friday, November 19th. Citigroup lifted their target price on Analog Devices from $191.00 to $216.00 and gave the company a buy rating in a report on Wednesday. Piper Sandler lifted their target price on Analog Devices from $190.00 to $210.00 and gave the company an overweight rating in a report on Wednesday. Truist lifted their target price on Analog Devices from $192.00 to $204.00 and gave the company a buy rating in a report on Wednesday. Finally, Raymond James lifted their target price on Analog Devices from $185.00 to $210.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $193.41.

ADI stock opened at $182.47 on Wednesday. Analog Devices has a 52-week low of $134.96 and a 52-week high of $191.95. The stock’s fifty day simple moving average is $175.94 and its 200-day simple moving average is $168.66. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $67.19 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Monday, November 22nd. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The business’s revenue was up 53.3% on a year-over-year basis. As a group, analysts anticipate that Analog Devices will post 6.41 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, August 25th that allows the company to buyback $8.50 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 13.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Stockholders of record on Friday, December 3rd will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 2nd. Analog Devices’s payout ratio is 60.39%.

In other Analog Devices news, Director Tunc Doluca sold 7,000 shares of Analog Devices stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $173.18, for a total value of $1,212,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $168.09, for a total value of $1,680,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,100 shares of company stock worth $5,382,960. Corporate insiders own 0.91% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Ameritas Investment Company LLC acquired a new position in shares of Analog Devices during the first quarter worth approximately $27,000. Independence Bank of Kentucky boosted its position in shares of Analog Devices by 113.3% during the third quarter. Independence Bank of Kentucky now owns 160 shares of the semiconductor company’s stock worth $27,000 after buying an additional 85 shares during the period. CNB Bank acquired a new position in shares of Analog Devices during the third quarter worth approximately $27,000. Asset Dedication LLC boosted its position in shares of Analog Devices by 184.5% during the third quarter. Asset Dedication LLC now owns 165 shares of the semiconductor company’s stock worth $28,000 after buying an additional 107 shares during the period. Finally, Strategic Blueprint LLC acquired a new stake in Analog Devices in the second quarter worth approximately $31,000. Institutional investors own 99.41% of the company’s stock.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

Recommended Story: Bar Chart

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.