Analog Devices, Inc. (NASDAQ:ADI) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-three ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $250.43.

ADI has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th.

Analog Devices Price Performance

Shares of ADI traded up $8.11 during trading hours on Friday, hitting $186.61. 713,952 shares of the company were exchanged, compared to its average volume of 3,451,413. The company has a market cap of $92.55 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $204.78 and its 200 day moving average is $213.53.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. On average, equities analysts anticipate that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.12%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,809 shares of company stock valued at $6,154,756 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Midwest Professional Planners LTD. raised its stake in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares during the period. Portland Global Advisors LLC grew its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC grew its holdings in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC grew its holdings in shares of Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors 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.