Analog Devices, Inc. (NASDAQ:ADI) Receives Average Recommendation of "Moderate Buy" from Analysts

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-four research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $255.41.

Several research firms have commented on ADI. 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 report on Thursday, February 20th. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Morgan Stanley upped their target price on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th.

Analog Devices Stock Down 0.8 %

Shares of NASDAQ ADI traded down $1.59 during trading hours on Monday, hitting $208.94. The company had a trading volume of 2,884,537 shares, compared to its average volume of 3,111,700. The stock has a market capitalization of $103.63 billion, a P/E ratio of 66.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. 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 50 day moving average is $216.98 and its 200-day moving average is $219.72. Analog Devices has a 1-year low of $182.57 and a 1-year high of $247.10.

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

Analog Devices announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.90%. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock valued at $7,746,500 over the last quarter. 0.33% of the stock is owned by company insiders.

Institutional Trading of Analog Devices

Institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its holdings in shares of Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp bought a new position in Analog Devices during the fourth quarter worth $460,000. Czech National Bank grew its holdings in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after purchasing an additional 6,566 shares during the period. Synergy Asset Management LLC increased its stake in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after purchasing an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Analog Devices during the third quarter valued at about $20,194,000. 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.