Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Target Price at $249.33

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-two analysts that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $249.33.

ADI has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 target price for the company. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Finally, TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th.

Analog Devices Trading Up 2.1 %

Shares of ADI stock traded up $4.57 during mid-day trading on Wednesday, hitting $220.44. 3,096,347 shares of the company's stock were exchanged, compared to its average volume of 2,817,429. The stock has a market cap of $109.40 billion, a price-to-earnings ratio of 67.00, a PEG ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock has a 50-day simple moving average of $216.99 and a two-hundred day simple moving average of $223.12.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm's quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company earned $2.01 EPS. Equities analysts expect that Analog Devices will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.67%. Analog Devices's dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Analog Devices

A number of large investors have recently modified their holdings of the company. Raymond James & Associates increased its holdings in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock valued at $540,463,000 after purchasing an additional 1,422,054 shares during the period. Franklin Resources Inc. grew its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC increased its stake in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company's stock worth $220,891,000 after buying an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after acquiring an additional 823,709 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

About Analog Devices

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.