Morgan Stanley Boosts Analog Devices (NASDAQ:ADI) Price Target to $260.00

Analog Devices (NASDAQ:ADI) had its target price lifted by Morgan Stanley from $221.00 to $260.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a research report on Monday, May 20th. Sanford C. Bernstein boosted their target price on Analog Devices from $200.00 to $220.00 and gave the company a market perform rating in a research note on Thursday. The Goldman Sachs Group boosted their target price on Analog Devices from $205.00 to $252.00 and gave the company a buy rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Analog Devices from $220.00 to $260.00 and gave the company an overweight rating in a research note on Thursday. Finally, TD Cowen boosted their target price on Analog Devices from $210.00 to $270.00 and gave the company a buy rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of Moderate Buy and an average price target of $243.23.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.58. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The stock has a 50 day moving average price of $200.67 and a two-hundred day moving average price of $193.66. The company has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a PEG ratio of 5.82 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company posted $2.83 earnings per share. The business’s revenue was down 33.8% on a year-over-year basis. Analysts expect that Analog Devices will post 5.93 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas lifted its holdings in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices during the third quarter valued at $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $29,000. 86.81% of the stock is owned by institutional investors.

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.