Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00 at JPMorgan Chase & Co.

Analog Devices (NASDAQ:ADI - Free Report) had its price objective increased by JPMorgan Chase & Co. from $280.00 to $300.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company's stock.

Several other research analysts also recently commented on ADI. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Piper Sandler cut their target price on shares of 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 raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $255.19.

Analog Devices Price Performance

ADI traded down $4.91 on Thursday, reaching $238.91. The company had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. The business has a 50 day simple moving average of $215.50 and a 200 day simple moving average of $220.24. The company has a market cap of $118.52 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. Analog Devices has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. As a group, sell-side analysts anticipate that Analog Devices will post 7.11 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is 126.11%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Analog Devices

Several large investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Analog Devices by 6.7% in the 4th quarter. Mackenzie Financial Corp now owns 741,899 shares of the semiconductor company's stock worth $157,624,000 after purchasing an additional 46,539 shares during the last quarter. Baer Investment Advisory LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $3,743,000. Griffith & Werner Inc. purchased a new position in shares of Analog Devices in the 4th quarter worth about $210,000. GF Fund Management CO. LTD. purchased a new position in shares of Analog Devices in the 4th quarter worth about $19,984,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of Analog Devices in the 4th quarter worth about $50,000. Hedge funds and other 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.