Analog Devices (NASDAQ:ADI) Shares Gap Up to $189.93

Analog Devices, Inc. (NASDAQ:ADI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $189.93, but opened at $200.03. Analog Devices shares last traded at $199.86, with a volume of 1,542,153 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on ADI. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, January 4th. KeyCorp raised their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research note on Thursday, January 18th. Barclays lifted their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Stock Up 3.6 %

The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market cap of $97.60 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 4.67 and a beta of 1.17. The stock has a fifty day simple moving average of $192.77 and a two-hundred day simple moving average of $186.93.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. Analog Devices’s revenue was down 22.7% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.87%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is currently 65.83%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Hedge funds and other institutional investors have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,152,000. Sequoia Financial Advisors LLC grew its stake in Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after purchasing an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC grew its stake in Analog Devices by 37.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after purchasing an additional 2,215 shares during the period. Daiwa Securities Group Inc. grew its stake in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after purchasing an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Analog Devices by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after purchasing an additional 89,504 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.