Analog Devices (NASDAQ:ADI) PT Raised to $270.00 at TD Cowen

Analog Devices (NASDAQ:ADI) had its target price hoisted by TD Cowen from $210.00 to $270.00 in a report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently commented on ADI. Oppenheimer raised their target price on Analog Devices from $215.00 to $245.00 and gave the stock an outperform rating in a report on Thursday, May 16th. KeyCorp increased their price target on Analog Devices from $230.00 to $285.00 and gave the stock an overweight rating in a research note on Thursday. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on Analog Devices from $220.00 to $260.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an outperform rating and a $254.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $243.23.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $232.51 on Thursday. Analog Devices has a one year low of $154.99 and a one year high of $241.88. The stock’s fifty day moving average is $200.67 and its 200 day moving average is $193.84. The stock has a market cap of $115.38 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.77 and a beta of 1.14. 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 (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $2.83 EPS. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices will post 6.16 earnings per share for the current year.

Analog Devices Announces Dividend

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

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several institutional investors have recently added to or reduced their stakes in ADI. Norges Bank bought a new stake in Analog Devices in the fourth quarter worth about $1,225,227,000. Swedbank AB bought a new stake in Analog Devices in the first quarter worth about $537,171,000. Massachusetts Financial Services Co. MA lifted its stake in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Vanguard Group Inc. lifted its stake in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after purchasing an additional 1,753,536 shares during the last quarter. 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.