Truist Financial Issues Positive Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI - Free Report) had its target price raised by Truist Financial from $216.00 to $230.00 in a report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the semiconductor company's stock.

Several other research analysts have also recently weighed in on ADI. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.48.

Analog Devices Stock Down 3.7 %

Analog Devices stock traded down $8.07 during midday trading on Friday, hitting $212.37. 4,107,954 shares of the stock were exchanged, compared to its average volume of 3,032,579. Analog Devices has a 52-week low of $182.57 and a 52-week high of $244.14. The stock has a market capitalization of $105.40 billion, a price-to-earnings ratio of 64.55, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The business's 50-day moving average price is $216.74 and its 200-day moving average price is $223.08. 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 (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. On average, research analysts expect that Analog Devices will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $43,000. Reston Wealth Management LLC purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $80,000. 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.